{"id":14539,"date":"2023-08-25T22:23:09","date_gmt":"2023-08-25T22:23:09","guid":{"rendered":"https:\/\/isafespend.com\/investing\/retailers-are-raising-the-alarm-about-theft-for-this-department-store-chain-its-been-within-our-plans\/"},"modified":"2023-08-25T22:23:10","modified_gmt":"2023-08-25T22:23:10","slug":"retailers-are-raising-the-alarm-about-theft-for-this-department-store-chain-its-been-within-our-plans","status":"publish","type":"post","link":"https:\/\/isafespend.com\/?p=14539","title":{"rendered":"Retailers are raising the alarm about theft. For this department-store chain, it\u2019s been \u2018within our plans.\u2019"},"content":{"rendered":"
\n

Lots of big retailers this summer are talking about theft, and how it\u2019s hurting profit. But when an analyst asked department-store chain Nordstrom Inc.
\n JWN,
\n -7.73%<\/bg-quote>
\n about the subject on Thursday, following a massive late-afternoon robbery at one of its stores this month in California, executives said levels of theft haven\u2019t been beyond what they expected. <\/p>\n

\n

\u201cCertainly what happened at our Topanga store is disturbing to all of us,\u201d Chief Executive Erik Nordstrom said on the retailer\u2019s earnings conference call on Thursday, referring to the robbery, at the Westfield Topanga shopping center northwest of Los Angeles. \u201cThe loss is a concern. Losses from theft are at historical highs. We find it unacceptable and it needs to be addressed.\u201d<\/p>\n

Don\u2019t miss:<\/strong> Nordstrom shares give up gains, after warning on slowing sales trends and a \u2018cautious\u2019 consumer<\/p>\n

\u201cThat being said, while it\u2019s unacceptable, it is within our plans,\u201d he said. \u201cWe have not seen continuing rising of shrinkage that has exceeded what we plan. So it\u2019s in line with how we laid out this year.\u201d<\/p>\n

Within the retail industry, \u201cshrinkage,\u201d or \u201cshrink,\u201d refers to losses of items attributed to theft, fraud or employee error. Different retailers calculate the metric differently. Items like beauty products, power tools, shoes and clothes are often easier targets. <\/p>\n

Organized retail theft has become a more common subject on the earnings calls of the nation\u2019s biggest retailers. But others say the data on the issue is far more subjective than what bold headlines in the news might indicate. <\/p>\n

The Los Angeles Police Department estimated that 30 to 50 people participated in the Topanga heist this month, armed with bear spray and taking off in cars without license plates, according to the Los Angeles Times. That store suffered a similar incident in 2021, the Times said. <\/p>\n

Executives at retailers like Dick\u2019s Sporting Goods Inc.
\n DKS,
\n -1.66%<\/bg-quote>
\n said this week that the level of \u201cshrink\u201d had surprised them, but efforts to sell off their stockpiles of unwanted goods were a bigger impact on margins. Dollar Tree Inc.
\n DLTR,
\n -0.46%<\/bg-quote>
\n also said that shrink hit margins. <\/p>\n

When asked about the subject last week, the nation\u2019s biggest retailer, Walmart Inc.
\n WMT,
\n +0.59%<\/bg-quote>,<\/span>
\n suggested it was complicated. <\/p>\n

\u201cShrink has increased a bit this year,\u201d John Furner, CEO of Walmart U.S., said on the company\u2019s earnings call. \u201cIt\u2019s increased last year. It\u2019s uneven across the country, it\u2019s not in every market. Some markets are higher than others.\u201d <\/p>\n

Chief Executive Doug McMillon added: \u201cShrink is comprised of more than one thing.\u201d <\/p>\n

James Rogers contributed. <\/em><\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Lots of big retailers this summer are talking about theft, and how it\u2019s hurting profit. But when an analyst asked department-store chain Nordstrom Inc. JWN, -7.73% about the subject on Thursday, following a massive late-afternoon robbery at one of its stores this month in California, executives said levels of theft haven\u2019t been beyond what they<\/p>\n","protected":false},"author":1,"featured_media":14540,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[],"class_list":{"0":"post-14539","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing"},"yoast_head":"\nRetailers are raising the alarm about theft. For this department-store chain, it\u2019s been \u2018within our plans.\u2019 | iSafeSpend<\/title>\n<meta name=\"description\" content=\"Lots of big retailers this summer are talking about theft, and how it\u2019s hurting profit. But when an analyst asked department-store chain Nordstrom Inc.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/isafespend.com\/?p=14539\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Retailers are raising the alarm about theft. For this department-store chain, it\u2019s been \u2018within our plans.\u2019 | iSafeSpend\" \/>\n<meta property=\"og:description\" content=\"Lots of big retailers this summer are talking about theft, and how it\u2019s hurting profit. But when an analyst asked department-store chain Nordstrom Inc.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/isafespend.com\/?p=14539\" \/>\n<meta property=\"og:site_name\" content=\"iSafeSpend\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-25T22:23:09+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-25T22:23:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/1693002189_social.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/isafespend.com\/?p=14539#article\",\"isPartOf\":{\"@id\":\"https:\/\/isafespend.com\/?p=14539\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/isafespend.com\/#\/schema\/person\/5b8c1c75336efaf09b163cd1eab0c9bf\"},\"headline\":\"Retailers are raising the alarm about theft. For this department-store chain, it\u2019s been \u2018within our plans.\u2019\",\"datePublished\":\"2023-08-25T22:23:09+00:00\",\"dateModified\":\"2023-08-25T22:23:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/isafespend.com\/?p=14539\"},\"wordCount\":451,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/isafespend.com\/#organization\"},\"articleSection\":[\"Investing\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/isafespend.com\/?p=14539#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/isafespend.com\/?p=14539\",\"url\":\"https:\/\/isafespend.com\/?p=14539\",\"name\":\"Retailers are raising the alarm about theft. For this department-store chain, it\u2019s been \u2018within our plans.\u2019 | iSafeSpend\",\"isPartOf\":{\"@id\":\"https:\/\/isafespend.com\/#website\"},\"datePublished\":\"2023-08-25T22:23:09+00:00\",\"dateModified\":\"2023-08-25T22:23:10+00:00\",\"description\":\"Lots of big retailers this summer are talking about theft, and how it\u2019s hurting profit. But when an analyst asked department-store chain Nordstrom Inc.\",\"breadcrumb\":{\"@id\":\"https:\/\/isafespend.com\/?p=14539#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/isafespend.com\/?p=14539\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/isafespend.com\/?p=14539#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/isafespend.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Retailers are raising the alarm about theft. For this department-store chain, it\u2019s been \u2018within our plans.\u2019\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/isafespend.com\/#website\",\"url\":\"https:\/\/isafespend.com\/\",\"name\":\"Solutions For Real\",\"description\":\"Latest Finance News and Updates\",\"publisher\":{\"@id\":\"https:\/\/isafespend.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/isafespend.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/isafespend.com\/#organization\",\"name\":\"Solutions For Real\",\"url\":\"https:\/\/isafespend.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/isafespend.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png\",\"contentUrl\":\"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png\",\"width\":690,\"height\":64,\"caption\":\"Solutions For Real\"},\"image\":{\"@id\":\"https:\/\/isafespend.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/isafespend.com\/#\/schema\/person\/5b8c1c75336efaf09b163cd1eab0c9bf\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/isafespend.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png\",\"contentUrl\":\"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/isafespend.com\"],\"url\":\"https:\/\/isafespend.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Retailers are raising the alarm about theft. For this department-store chain, it\u2019s been \u2018within our plans.\u2019 | iSafeSpend","description":"Lots of big retailers this summer are talking about theft, and how it\u2019s hurting profit. But when an analyst asked department-store chain Nordstrom Inc.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/isafespend.com\/?p=14539","og_locale":"en_US","og_type":"article","og_title":"Retailers are raising the alarm about theft. For this department-store chain, it\u2019s been \u2018within our plans.\u2019 | iSafeSpend","og_description":"Lots of big retailers this summer are talking about theft, and how it\u2019s hurting profit. But when an analyst asked department-store chain Nordstrom Inc.","og_url":"https:\/\/isafespend.com\/?p=14539","og_site_name":"iSafeSpend","article_published_time":"2023-08-25T22:23:09+00:00","article_modified_time":"2023-08-25T22:23:10+00:00","og_image":[{"width":1280,"height":640,"url":"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/1693002189_social.jpeg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/isafespend.com\/?p=14539#article","isPartOf":{"@id":"https:\/\/isafespend.com\/?p=14539"},"author":{"name":"News Room","@id":"https:\/\/isafespend.com\/#\/schema\/person\/5b8c1c75336efaf09b163cd1eab0c9bf"},"headline":"Retailers are raising the alarm about theft. For this department-store chain, it\u2019s been \u2018within our plans.\u2019","datePublished":"2023-08-25T22:23:09+00:00","dateModified":"2023-08-25T22:23:10+00:00","mainEntityOfPage":{"@id":"https:\/\/isafespend.com\/?p=14539"},"wordCount":451,"commentCount":0,"publisher":{"@id":"https:\/\/isafespend.com\/#organization"},"articleSection":["Investing"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/isafespend.com\/?p=14539#respond"]}]},{"@type":"WebPage","@id":"https:\/\/isafespend.com\/?p=14539","url":"https:\/\/isafespend.com\/?p=14539","name":"Retailers are raising the alarm about theft. For this department-store chain, it\u2019s been \u2018within our plans.\u2019 | iSafeSpend","isPartOf":{"@id":"https:\/\/isafespend.com\/#website"},"datePublished":"2023-08-25T22:23:09+00:00","dateModified":"2023-08-25T22:23:10+00:00","description":"Lots of big retailers this summer are talking about theft, and how it\u2019s hurting profit. But when an analyst asked department-store chain Nordstrom Inc.","breadcrumb":{"@id":"https:\/\/isafespend.com\/?p=14539#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/isafespend.com\/?p=14539"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/isafespend.com\/?p=14539#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/isafespend.com\/"},{"@type":"ListItem","position":2,"name":"Retailers are raising the alarm about theft. For this department-store chain, it\u2019s been \u2018within our plans.\u2019"}]},{"@type":"WebSite","@id":"https:\/\/isafespend.com\/#website","url":"https:\/\/isafespend.com\/","name":"Solutions For Real","description":"Latest Finance News and Updates","publisher":{"@id":"https:\/\/isafespend.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/isafespend.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/isafespend.com\/#organization","name":"Solutions For Real","url":"https:\/\/isafespend.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/isafespend.com\/#\/schema\/logo\/image\/","url":"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png","contentUrl":"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png","width":690,"height":64,"caption":"Solutions For Real"},"image":{"@id":"https:\/\/isafespend.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/isafespend.com\/#\/schema\/person\/5b8c1c75336efaf09b163cd1eab0c9bf","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/isafespend.com\/#\/schema\/person\/image\/","url":"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png","contentUrl":"https:\/\/isafespend.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png","caption":"News Room"},"sameAs":["https:\/\/isafespend.com"],"url":"https:\/\/isafespend.com\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/posts\/14539","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/isafespend.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14539"}],"version-history":[{"count":1,"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/posts\/14539\/revisions"}],"predecessor-version":[{"id":14541,"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/posts\/14539\/revisions\/14541"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/isafespend.com\/index.php?rest_route=\/wp\/v2\/media\/14540"}],"wp:attachment":[{"href":"https:\/\/isafespend.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14539"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/isafespend.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14539"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/isafespend.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14539"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}