£5k of shrinkage a week…
I was at the checkout of my local DIY superstore and noticed a memo to staff sitting next to the till (i have eyes like a hawk). In short the memo said that they were loosing £5500 a week in ’shrinkage’ – i presume that equates to stock that they can’t account for as the memo went on to detail steps to ensure the till item count matches the customers count etc….geez, that’s £286,000 a year ($550,000 for my american friends) and that’s just one store!!! If that’s an average across all stores it’s around £143 million for the company a year! Glad that’s not my business!!!!
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Sadly that’s very common in retail business. That’s covers theft and loss.