Retail Crime is Catalyzing Bankruptcies, Higher Prices
Updated: Dec 29, 2022
On Burt Flickinger's weekly "Retail Roundup" on MORNINGS with MARIA, he discussed the out-of-control crime that is catalyzing retail bankruptcies, liquidations and store closings with fellow Cornell alum and inspirational champion of women leaders in engineering & hockey, Jackie DeAngelis. Macy's & Walgreens alone have closed 1,000 stores, mostly urban, in the last 100 days. While Macy's is doing a fantastic job with RFID tags linked to video to track what's stolen, crime is coming at a tremendous cost to consumers in record-high inflation plus the higher cost of security, especially inner city. Burt also talked about Supply Chain Shortages fueling consumer hoarding, which actually can pay off for consumers because with prices up 25% since the summer in some food & medicine categories, consumers can save more money hoarding than you could make in the stock market. And Burt discussed the loneliness, stress and poor driving conditions behind trucker shortages.
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