NASHVILLE, Tenn. (WTVF) — The next time you head to a Dollar Tree or Family Dollar store, the CEO says you'll see more merchandise locked up!
The company says some items will also be moved from the shelves to behind the checkout stand. The stores may also discontinue some products if stores aren’t able to keep them on shelves.
The company’s gross profit margins fell about 3 percent in the second quarter.
The retailer primarily blames the drop on a rise in stolen goods.... but says that higher prices for fuel and electricity are also to blame. But this may be just a part of a bigger trend!
Retailers large and small say they are struggling to contain an escalation of store crimes from petty shoplifting to organized sprees of large-scale thefts that clear entire shelves of products.
Target for example - warned earlier this year that it was bracing to lose half a billion dollars because of theft.
The CEO of Dollar Tree says if things don't improve, they may have to start passing along costs to the consumer, something they don't want to do.
