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Target Predicts $1.3B Profit Loss from Theft
Target has announced its first quarter 2023 financial results, where it predicted this year’s profitability will be reduced by $500 million more than last year because of shrink. The company lost as much as $800 million from inventory shrink in 2022.
Q1 2023 Brings Challenges with Inflation Control
Slower-but-continued growth in gross domestic product and other economic indicators during the first quarter of NRF's Monthly Economic Review showed inflation control challenges.