DeSantis Pauses 2024 Campaign To Fight Off Hurricane Idalia Pirates: 'You Loot, We Shoot'
Portfolio Pulse from Chris Katje
Florida Governor Ron DeSantis has paused his 2024 presidential campaign to focus on the aftermath of Hurricane Idalia. DeSantis warned against looting in the wake of the disaster, referencing the rise in shoplifting at retail stores across the country. Target Corporation (NYSE:TGT) acknowledged shoplifting problems last year, taking a $400 million hit due to organized theft that hurt gross profit margins.
August 31, 2023 | 6:37 pm
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Target Corporation (NYSE:TGT) acknowledged shoplifting problems last year, which resulted in a $400 million hit to its gross profit margins. The company's experience highlights the broader issue of theft in the retail sector, which could be exacerbated by looting in the aftermath of Hurricane Idalia.
The mention of Target Corporation in the context of shoplifting and looting indicates a potential risk to the company's profits and operations. Given the company's previous experience with organized theft, the aftermath of Hurricane Idalia could present additional challenges. This could negatively impact the company's stock in the short term.
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