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Whether it’s toothpaste, chocolate, washing powder, or deodorant, U.S. retailers now keep all everyday products under lock. And key as inflation leads to an increase in petty theft and organised shoplifting.

According to the news agency AFP, like the rest of the world, the prices of essential goods have increased rapidly in the United States. And the cost of living has increased for ordinary consumers.

In the US, major retailers such as Walmart, Target, CVS, Walgreens, Home Depot, and Foot Locker have expressed concern over the increasing number of thefts. Which have sometimes turned violent.

These stores have mentioned these events in their earnings reports or profit results.
“Organised retail crime and general theft are an increasingly serious problem affecting many retailers. Lorraine Hobart, chief executive of Dick Supporting Goods, said during a conference call.

He added that the impact of the theft on the company’s inventory was “significant” for both its second-quarter results and spending expectations for the year.
Duck Supporting Goods now expects earnings per share of $11 to $12 for the year, down from its previous forecast of $13 to $14.
‘This is unacceptable.

“During the first five months of this year, our stores saw a 120 percent increase in theft involving violence or threats of violence. Target Chief Executive Brian Cornell said in a separate briefing.
“Our team faces an unacceptable number of retail thefts and organised retail crimes,” he said.

He said that the losses are so high. That it will not be possible to continue the business in this way in the long run.
These events are coming at a time when policymakers in the US are trying to curb inflation. And interest rates have risen from zero to five and a half percent in the past year and a half. Click here to read more news

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