A major retailer dismissed its loss prevention team in at least one store, I hear from a salesperson there. We can only surmise that no team equals probably a $250,000 "savings" that would go straight to the bottom line of the store. Multiply that by 100 stores and you have a nice bump to the bottom line, which pretties the corporation up for a sale.
Circa 1980 a buyer for this same major retailer asked us to invoice their purchases at 10% higher than list. They would only pay list, but by having the inventory, which would be their asset, overvalued they could fool the bankers into lending 10% more against phantom inventory. We said no.
When you get rid of loss prevention teams, you lose.
TJMaxx is not the biz in question, but I'd ask how did this guy get so much inventory past Loss Prevention?
Feel free to forward this by email to three of your friends.
Circa 1980 a buyer for this same major retailer asked us to invoice their purchases at 10% higher than list. They would only pay list, but by having the inventory, which would be their asset, overvalued they could fool the bankers into lending 10% more against phantom inventory. We said no.
When you get rid of loss prevention teams, you lose.
Brooklyn prosecutors showcased stacks of evidence Wednesday against a sticky-fingered assistant manager at a T.J. Maxx accused of selling high-end wares he stole from the outlet at rock-bottom prices.
TJMaxx is not the biz in question, but I'd ask how did this guy get so much inventory past Loss Prevention?
Feel free to forward this by email to three of your friends.
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http://blogs.wsj.com/corporate-intelligence/2013/08/19/a-problem-for-jeff-bezos-the-mall-is-becoming-cheaper-than-amazon/?mod=WSJ_hppMIDDLENexttoWhatsNewsSecond
Amazon has a problem: Malls are cheaper.
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