CRIME & THE BOTTOMLINE: Impossible to stop NYC store thefts, Rite Aid exec says
"I think the headline here is the environment that we operate in, particularly in New York City, is not conducive to reducing shrink just based upon everything you read and see on social media and the news in the city" he said. The drug store chain said front-end gross profit was impacted by a $5 million increase in shrink particularly in urban locations.reported a net loss
for the quarter of $331.3 million, or $6.07 per share, compared with a net loss of $100.3 million, or $1.86 per share a year earlier. The loss included a $252.2 million goodwill charge related to its pharmacy-services segment. When taking out one time items, adjusted losses came in at 63 cents a share. Analysts surveyed by FactSet had been expecting an adjusted per-share loss of 50 cents.
Earlier this year, the chain closed stores in New York's Hell's Kitchen neighborhood and another on Manhattan's Upper West Side.spotted a brazen shoplifting incident at the Hell’s Kitchen location, where "store sources" told the outlet people have stolen over $200,000 in store goods over a couple of months.
In all, the store closing plan meant the shutting of 63 stores nationwide, roughly 2% of the total number of
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