Target says organized retail crime is worsening and will fuel $500 million more of lost and stolen merchandise this year than last year.
, according to the National Retail Federation. Its data is anonymized and shared by retailers, so it cannot be fact-checked.
Target has become more vocal about organized retail theft, as it has struggled with excess inventory and its margins have disappointed. It missed Wall Street's earnings expectations for three consecutive quarters last year. Unwanted merchandise sat around in its stores and warehouses, before the company took aggressive action to cancel orders and mark items down.
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