Revelations 13:16-18 “Also it causes all, both small and great, both rich and poor, both free and slave, to be marked on the right hand or the forehead, so that no one can buy or sell unless he has the mark, that is, the name of the beast or the number of its name. This calls for wisdom: let the one who has understanding calculate the number of the beast, for it is the number of a man, and his number is 666.”
Important Takeaways:
- Target CEO: We’re seeing ‘violent’ incidents in our stores, and it’s costing us millions
- The retailer estimated in its earnings release Wednesday that inventory shrinkage — mostly the theft of merchandise — would clip profits by a whopping $500 million this year.
- Factoring in an about $700 million profit hit from inventory shrinkage in 2022, Target is on pace to see $1.2 billion in profits go up in smoke, due primarily to organized retail crime.
- “These concerns have grown in recent years, as criminal groups have become more brazen and violent in their tactics and are using new channels to resell stolen goods.”
- Nordstrom (JWN) recently followed Whole Foods in exiting a key location in San Francisco, citing concerns over worker safety.
- Independent news site The San Francisco Standard has tracked 20 closures of household-name stores in the city since 2010, including Office Depot.
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