Home Depot Ties Opioid Crisis to Recent Surge in Store Theft
- Home-improvement retailer says rise in thefts hurts margins
- Company has rolled out new programs in attempt to thwart crime
This article is for subscribers only.
Home Depot Inc. executives said the nation’s opioid crisis could be contributing to an unexpected surge in thefts from its stores.
The company said organized criminals are stealing millions of dollars’ worth of goods from it and other retailers and storing the merchandise in warehouses. The theft, which retailers call shrink, has gotten so bad that it will narrow Home Depot’s operating profit margins next year, executives said during a meeting with analysts and investors.