Dollarama Inc.'s new chief financial officer says shrinkage - a metric the company uses to track inventory lost through theft, damage and fraud - has increased but is showing signs of plateauing.
The increase in shrinkage comes as inflation remains above the Bank of Canada's two per cent target and customers are grappling with high prices of goods. In October, on the heels of Vancouver police reporting they'd made 258 arrests and recovered $57,000 in stolen merchandise form shoplifting, the general manager for loss prevention at London Drugs said most retailers have seen at least a 20 per cent increase in retail theft in recent years.
Sales for the 13-week period totalled $1.64 billion, up from $1.47 billion a year earlier. Comparable store sales rose 8.7 per cent as the number of transactions rose 11.2 per cent, but the average transaction size fell 2.2 per cent. Many have been drawn in by the broader range of merchandise Dollarama has been able to offer over the last decade as it gradually added higher price points. Its highest price items are now $5.
Source: News Formal (newsformal.com)
Dollarama CFO Shrinkage Inventory Theft Damage Fraud Self-Checkout Kiosks Retail Industry Inflation High Prices
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