Corporations see increased sales but plummeting profits thanks to wide scale retail theft
Retailers, including Dick’s, Target, Macy’s, Nordstrum, and Ulta, are reporting that retail theft is significantly hurting their profits. Of course this contributes to the cost-of-living crisis, because everyone has to cover the costs, which disproportionately harms the poor and middle classes. From CBS News:
Dick’s Sporting Goods warned Tuesday that retail theft is damaging its business and would lead to lower annual profits.
The sporting goods and athletic clothing seller reported second-quarter results Tuesday morning that included a 23% drop in profit, despite sales that rose 3.6% in the period. Shares of Dick's (DKS) plunged nearly 24% Tuesday.
The company blamed shrink, the industry term for theft and damaged inventory, for its surprisingly poor earnings.
CNN accurately reported the problem but somehow can’t seem to spot the cause of the problem. The mayor of Los Angeles says the problem is that the conservative media talks too much about the problem; I wonder why she hasn’t solved the problem. Here’s a humorous excerpt from RedState:
Los Angeles mayor Karen Bass attempted to blame ‘conservative media’ for painting a picture of rampant crime when the statistics tell a tale of … rampant crime. Similarly, in reporting on Dick’s Sporting Goods’ statement regarding theft, CNN entered into a string of curious contradictions trying to downplay the matter.
Could it be that the reason retail theft is so high is that pro-crime politicians and prosecutors (Democrats) have decided that theft under a certain dollar amount should not be prosecuted? In California, that number is $950. Does anyone think that the thieves and the stores are standing by with a calculator to check the amount? Does anyone think that as soon as thieves go over $950, pro-crime prosecutors will suddenly become anti-crime?
It seems that the media and other Democrats have a great deal of difficulty connecting the dots on basically everything, so allow me to explain.
One of the reasons businesses are having a tough time filling minimum wage jobs is probably because the portion of the population that would ordinarily staff minimum wage jobs have, in part, turned to risk-free crime because they can make a lot more money reselling their stolen goods than working.
Another reason for the lack of workers is that Democrats don’t think mentally and physically able people should have to work for their generous government benefits. How many thieves are collecting food, health care, and housing benefits because they report no income?
The reason so many illegals are coming across the border is because the Biden administration is not enforcing immigration laws, and lawless sanctuary cities and states said these invaders would be welcome.
The reason cartels are getting so rich off human smuggling, sex trafficking, and drug smuggling is because the Biden administration has been so lax in enforcement … and promoted the criminality.
The reason so many crimes, including murder, are committed by people with long criminal records is because DAs allow a revolving door.
The reason kids are falling so far behind in English and reading is because teachers are spending so much time indoctrinating children with leftist ideas instead of teaching the basics.
The reason government entities throughout the country are broke is because they spend too much, not because they tax too little.
The reason people in businesses are moving from big government, high tax, massive regulation blue states to smaller government, lower tax, fewer regulations red states is self-explanatory.
The reason that the Earth has warmed a little over the last 160 years is because the Earth always warms cyclically and naturally after a little ice age ends.
The reason we had a cooling period from 1940–1975 is because there is no relationship between temperatures and meat, milk, oil, or coal consumption.
Could it be that the reason the public doesn’t trust the media and the (in)Justice Department is because they have seen how they ignored crimes by Hillary and Joe while endlessly targeting President Trump with lies about Russian collusion and for challenging a very questionable election?
Here’s a hypothetical: Let’s say there is a powerful politician who has access to a government jet and he uses that jet to ferry his son, who has no expertise or experience, around the world gathering kickbacks from several foreign countries. Let’s say the son forms several shell corporations to launder the kickbacks and disburse millions to members of the politician’s family. Let’s say the son has a joint checking account with his dad and pays his dad’s bills.
Is the dad benefitting?
Are media outlets, (in)Justice Department officials, and other Democrats so stupid that they don’t understand that the patriarch of this corrupt family has benefited greatly from the kickbacks? Or do they just not care about corruption by powerful Democrats? It can only be one or the other.
Image: Free image, Pixabay license, no attribution required.