XLP - Target Tightens Shoplifting Rules Reduces Threshold To $50: Report | Benzinga
Target Corp. (NYSE:TGT) is reportedly intensifying its efforts to combat shoplifting by lowering the threshold for staff to intervene in thefts.
Employees can now act on theft incidents valued at $50 or more, a reduction from the previous $100 limit. This new guideline will be implemented this summer, according to a report from Bloomberg.
The adjustment is one of several measures Target is taking to address theft, which has significantly impacted its profit margins in recent quarters.
The report added that the company, which operates nearly 2,000 stores across the U.S., expects to stabilize these losses this year.
The report cited a Target spokesperson, who stated that the company is ...