“We are now taking a very defensive approach to shrink,” Dollar Tree CEO Rick Dreiling said.
Dollar Tree Inc. is the latest retailer to highlight the impact of “shrink,” or inventory losses due to factors such as theft, and CEO Rick Dreiling says the company is ramping up its efforts to tackle shoplifting.
The CEO said the company is rethinking its approach to how certain products are sold. “It [includes] everything from moving certain SKUs to behind the checkstand, it has to do with some cases being locked up,” he said. “And even to the point where, we have some stores that can’t keep a certain SKU on the shelves, just discontinuing the item.”“We have a lot of things in the works that’s going to roll forward,” he added.
Shrink continues to be a key theme of retail earnings. While there are a number of factors, including damaged items, behind inventory shrink, theft and organized retail crime are increasingly important drivers, according to major retailers such as Target Corp. TGT, +0.44% and Home Depot Inc. HD, +0.08%.
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