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Executives at Dollar Tree cited increased"shrink" as one reason for the chain's lower-than-expected profit during the company's first-quarter earnings call on Thursday. In retail,"shrink" is the difference between the number of items a store has according to its records and the number it actually has on hand. It can include theft as well as more benign reasons, such as products expiring on the shelf.to the Wall Street Journal.
"This is not unlike what you're seeing in many other retailers across the industry," CFO Jeffrey Davis told analysts."Some of this is societal, some of it is economic, some of it, of course, is particular to us. And we're taking all the appropriate steps that we can to control and mitigate this where we can.
Later in the call, Dollar Tree's CFO Jeffery Davis further outlined the company's"multi-faceted sort of approach" to shrinkage including working with law enforcement, hiring for key roles, and restricting customers' access to items. But he admitted that such restrictions canTheft and other kinds of shrink weren't the only challenges to Dollar Tree's profits during the first quarter.
Many retailers have pointed to theft from their stores as a growing challenge. Walmart CEO Doug McMillon said last year that theft had
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