Home Depot Says It's Committing to Cities That Rivals Flee Over Crime Concerns [BNN Bloomberg (Canada)]
Yum! Brands, Inc. (YUM)
Last yum! brands, inc. earnings: 4/29 07:00 am
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Source: BNN Bloomberg
The home-improvement retailer, which has been investing heavily in technology to prevent organized retail crime, saw a notable increase in theft beginning about five years ago, Decker said. In 2023, the company experienced more than 142,000 instances of shrink, which includes petty crimes, goods stolen or lost by employees, and organized retail crime. In one case last year, a former pastor in Florida was accused of running an organized crime ring that stole at least $1.4 million in home-improvement merchandise from Home Depot. “This is billions of dollars we've had to absorb into our cost structure,” Decker said in an interview in Las Vegas. “This is the result of very, very serious societal problems.” Read More: Home Depot Ties Opioid Crisis to Recent Surge in Store Theft Because of Home Depot's level of profitability, it has opted to remain in cities where other major retailers have closed stores, Decker said. In Oakland, for example, restaurant chains including Yum! Brands
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