Retail Giants Walmart and Target Face Challenges: Crime, Inflation, Backlash, and Student Loans
Retail executives from Walmart and Target are speaking out about the increasing threat of organized retail crime, which is impacting company profits and the safety of customers and employees. Recent incidents, such as a smash-and-grab at a Nordstrom in Los Angeles, highlight the severity of the issue. Walmart CEO Doug McMillon is calling for action at the local level to address the problem, while Target CEO Brian Cornell acknowledges the unacceptable amount of retail theft and organized retail crime. Both companies are working on strategies to combat shrinkage and reduce loss rates.