It’s nothing new and I shouldn’t be shocked anymore but it’s beyond comprehension the theft that goes on in our store. It’s almost like our location has to be out there that we’re easy pickings! Of course it doesn’t help that we don’t have in house A.P. And we might as well secure Michael Kor’s handbags down with string. It’d make it so much easier for them to walk out with the 15 plus in their arms. (We got hit 2X times now!). The mark up must be huge that no one seems concerned.
I’m almost ok with right now as it’s then less to count during inventory!
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Woke company is woke, shame
Just got another report of theft on Saturday night in Handbags in a store in my area. Shame on Macy’s for the utter lack of AP and Associates not being able to do anything but report to their Manager. Inventory results will be very telling this time around. All I can ask is does Macy’s want to stop the bleeding?
There is no such insurance as shoplifting insurance.
When the inventory is counted and the new quantities are entered on the books it is shortage pure and simple. Shortage is a line on the P&L statement and has a direct negative impact to the bottom line.
JG will try to put some positive spin on the results and all of his minions will follow suit. That is how Macy’s works. But the bottom line is Macy’s will booking huge shortages.
Very Common reaction is that it is 'written off'. There is no such federal tax deduction at all. The merchandise is gone and its a shortage. Take a few business classes on how it works.
the insurance premium must cost a fortune, sounds like there might be some fraud going on there. you would think these insurance companies would start dropping some department stores these days!
They write it off to the insurance company at full price.