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   From: he-failed-to-repatriate-niggers@reparations.org   
      
   Target (TGT) is hitting its goals on inventory shrink.   
      
   On a call with reporters, Its CFO and COO Michael Fiddelke told Yahoo Finance   
   the company has hit a plateau when it comes to shrink, including retail theft.   
      
   "[Inventory shrink] was one of the tailwinds to profit in the quarter, and as   
   we stepped into the year, our aim was to have shrink plateau, and so to   
   improve from the deterioration we've seen over the last couple of years, two   
   quarters in — we're    
   achieving that and then some," Fiddelke said.   
      
   Shrink can be the result of theft, damage, or poor record keeping, among other   
   factors.   
      
   In its second quarter report, Target's 28.9% gross profit margin beat   
   estimates, up from 27% a year ago.   
      
   Target said shrink increased by more than $500 million last year compared to   
   2022, "representing about 50 basis points of incremental rate pressure,"   
   Fiddelke said on the company's Q4 earnings call in March.   
      
   Profits took a $700 million hit from the issue in 2022. From 2019 to 2023, the   
   company said shrink costs reduced its operating margin rate by a "cumulative   
   1.2 percentage points."   
      
   "The things that we feel good about are the progress we're seeing in our   
   partnerships at the federal and state and local level," Fiddelke said.   
      
   But the work is ongoing, and the company is hoping to keep making progress in   
   the quarters ahead.   
      
   Part of the strategy included closing nine stores at the end of last October.   
      
   "We cannot continue operating these stores because theft and organized retail   
   crime are threatening the safety of our team and guests, and contributing to   
   unsustainable business performance," the company said in a statement at the   
   time.   
      
   The closed stores included one in Harlem, New York City; two in Seattle; three   
   near San Francisco and Oakland, Calif.; and three in Portland, Ore.   
      
   At some hard-hit stores, Target also installed locking cases for "prone to   
   theft" merchandise.   
      
   https://finance.yahoo.com/news/target-may-have-solved-one-of-ret   
   ils-biggest-problems-theft-103150947.html   
      
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