Home Depot Inc. executives said organized criminals are stealing millions of dollars’ worth of goods from the chain and other retailers and storing the merchandise in warehouses.
The theft, which retailers call shrink, has gotten so bad that it will narrow Home Depot’s operating profit margins next year, executives said during a meeting with analysts and investors.
“This is happening everywhere in retail,” Chief Executive Craig Menear said. “We think this ties to the opioid crisis, but we’re not positive about that.”
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Home Depot’s admission is one of the first times a major US retailer has specifically called out the opioid epidemic as a factor in… Los Angeles Times