Nordstrom reports 'historical highs' for theft-incurred losses

Thieves ransacked a Nordstrom store in Los Angeles, stealing nearly $100,000 worth of handbags and clothes, prompting the CEO to address the issue of retail theft and the need for better solutions.

foxbusiness.com

Relevant topic timeline:

8/22/2023

Retail's true crime story: Top execs say rise in theft is cutting into earnings (NYSE:M)

Several major retailers, including Dick's Sporting Goods, Lowe's, Target, and Macy's, have cited an increase in theft as a factor in their reduced earnings and are taking steps to address the problem.

8/24/2023

Nordstrom stock reverses gains as execs warn about 'historic' retail theft

Nordstrom's CEO Erik Nordstrom addressed the issue of high theft losses, which have reached historical highs, during an earnings call, causing the company's shares to fall 4.3% despite better than expected sales and earnings, with overall sales dropping 8.3%.

8/24/2023

Retailers are raising the alarm about theft. For this department-store chain, it’s been ‘within our plans.’

Nordstrom executives stated that levels of theft at their stores have not exceeded expectations, despite a recent massive robbery at one of their locations, although they acknowledged that losses from theft are at historical highs and need to be addressed.

9/3/2023

Toothpaste, chocolate, deodorant under lock & key: US retailers voice alarm at rising theft, 'flash rob' attacks - Times of India

Retailers in the US, including Walmart, Target, and CVS, are experiencing an increase in theft and organized shoplifting, leading to heightened security measures such as locked shelves, padlocked refrigerators, and scattered call buttons, in an effort to combat the rising issue that is impacting their earnings.