Inside Retail

AUGUST 27, 2023

The group, which is made up of discount department store brands Kmart and Target, as well as online marketplace Catch, delivered record earnings during FY23 – a 52 per cent increase on the previous year, to $769 million. If you’re looking at this over a time period, the greater benefits [will come] in FY25-26,” Bailey said.

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Retail TouchPoints

MAY 6, 2021

Yet as pundits ponder the death of the department store, the industry is racing to reimagine where and how it sells goods. Competitive companies rely on focus and understanding their core competencies, solving tasks such as shrinkage and stock-out, and then taking those savings to tackle larger AI projects. In the U.S.,

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Retail Gazette

FEBRUARY 28, 2024

Speaking at the Smart Retail Tech Expo this week, she said: “I was in one of our supply chain depots where we’re rolling out robots at the moment, and the picking robots are super cool, but they’re removing jobs. “I

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Inside Retail

FEBRUARY 15, 2023

In the US, for example, department store Target recently blamed a US$593 million reduction in its gross profit on organised retail crime, with shrinkage causing its profit margin to fall by around US$400 million. “We

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Inside Retail

MAY 25, 2023

Factoring in the roughly US$700 million of inventory shrinkage that occurred in 2022, mainly attributed to retail crime, the company is on track to lose up to a total of US$1.2 billion due to organised retail crime over the past two years alone. billion due to theft in 2023 alone.

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Retail TouchPoints

NOVEMBER 7, 2023

What’s more, these scenarios are also becoming more blatant in recent months as fraudsters have raided and ransacked department stores. The same retail security survey from NRF found that most retailers experience a shrinkage rate of around 1.4%, which is most often attributed to shoplifting, employee theft and ORC.

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