Stores expanded too much and then got hit by the pandemic, a tight labor market, and changes in buying patterns. Those sort of things have a lot larger impact on their profitability than whether shrink was 1.6% or 1.4%.
If they admit they overreached, it will hurt stock prices and their bonuses.
So they blame crime, knowing a significant amount of the population will go along with it because it’s victim blaming and psychologically that makes people think it can’t ever effect themselves.
I dont know why else people would take Walmart PR as gospel
Because wehh corporations wehh mom and pop shop (which they don’t go to because it’s inconvient) bla bla poor people. People like thinking they have a deeper understanding of something even if it’s objectively not true because it makes them feel intelligent, no matter how stupid it makes then look. The reason these stores closed is really simple, crime in low income areas caused these stores to not be profitable or simply not worth the endless hassle. I don’t even get why they’re mad though, they cry about mom and pop shops and when the large corporations leave and there is all the space for them they get mad the large corporations left. Idiotic.
This is the e real reason, I don’t get why you’re being downvoted.
Because Stores say shoplifting is a national crisis. The numbers don’t back it up. The surge in theft is mostly just made up, and what isn’t made up is kind of an irrelevantly small number.
Stores expanded too much and then got hit by the pandemic, a tight labor market, and changes in buying patterns. Those sort of things have a lot larger impact on their profitability than whether shrink was 1.6% or 1.4%.
It’s capitalism…
If they admit they overreached, it will hurt stock prices and their bonuses.
So they blame crime, knowing a significant amount of the population will go along with it because it’s victim blaming and psychologically that makes people think it can’t ever effect themselves.
I dont know why else people would take Walmart PR as gospel
Because wehh corporations wehh mom and pop shop (which they don’t go to because it’s inconvient) bla bla poor people. People like thinking they have a deeper understanding of something even if it’s objectively not true because it makes them feel intelligent, no matter how stupid it makes then look. The reason these stores closed is really simple, crime in low income areas caused these stores to not be profitable or simply not worth the endless hassle. I don’t even get why they’re mad though, they cry about mom and pop shops and when the large corporations leave and there is all the space for them they get mad the large corporations left. Idiotic.