Not dryer-shrunk jeans… “Retail shrink” (the loss of inventory) is a growing problem in the US, and retailers are blaming rising theft. Target recently said that organized retail crime would lead to $500M more in losses this year. Dollar Tree, Home Depot, T.J. Maxx, and others have cited shrink and theft as a hit to profits. FYI: shrink cost retailers $95B in 2021. In December, Walmart said rising theft could even lead to store closures. Now retailers are bulking up precautions (think: more items behind glass).
Brands get “Bud Lighted”... This Pride Month is off to a tumultuous start for several companies. Last month Bud Light faced backlash after transgender influencer Dylan Mulvaney posted about beer that the AB InBev-owned brand had sent her. Bud sales fell by as much as 40% in some Southern markets. Target and Kohl’s have been boycotted because of their Pride merch, and Target pulled some products over threats to employees. Lots of companies still plan to move forward with their Pride plans, including Coors Light’s Denver Pride Parade.