You may already be peeved at The Dollar Tree for raising their base price from the longstanding $1 to $1.25. But if leftists and their garbage policies get their way, you won’t even be able to get that deal anymore - because there won’t even be a Dollar Tree at which to shop.
The discount retailer found themselves in a money pit following the second quarter this year, when the chain’s gross profit margin plummeted to 29.8% from 32.7% during the same time period last year. And according to Dollar Tree CEO Richard Dreiling and CFO Jeffrey Davis, the tank in sales is largely due to “shrink” - a corporate term for shoplifting.
In fact, theft has become such a problem for the retailer that the company is now moving certain items behind the counter, locking up items that are commonly stolen, or just nixing merchandise from the shelves altogether.
“We are now taking a very defensive approach to shrink,” Dreiling said in a call with Wall Street analysts Thursday. “We have several new shrink formats that we’ll introduce in the back half of the year, and it goes everything from moving certain SKUs to behind the check stand. It has to do with some cases being locked up. And even to the point where we have some stores that can’t keep a certain SKU on the shelf just discontinuing the item. So we have a lot of things in the works.”
Related: The Left’s Agenda Is Extreme - They Just Don’t Want Americans To Know It
But while company execs have pegged theft as a major source of their financial problems, they also say the rising cost of energy - thanks in large part to President Joe Biden’s war on American energy independence - has driven up the cost of everything from shipping goods to heating and cooling their stores. On top of that, inflation has forced Americans to rethink where they spend their thinly-stretched dollars, leading consumers to buy only the essentials and leave discretionary purchases on the shelves - all of which cuts into retailers' sales.
It’s almost as though policies that spur inflation, encourage petty theft, and jack up gas prices have real-world consequences for actual people. Who’d have thought?
Follow MRCTV on Twitter/X!
Another Day, Another 12-Year-Old Arrested For Armed Carjacking In DC https://t.co/iD4VKrSZV2
— MRCTV (@mrctv) August 25, 2023