Home Depot Inc. has chosen to remain committed to major US cities such as Oakland, Detroit, and Philadelphia, even as other retailers have left due to rampant retail theft. The company has experienced a significant increase in theft over the past five years, with over 142,000 instances of shrink in 2023 alone. Home Depot has invested in technology to combat organized retail crime, but the problem persists. Despite the financial impact, Home Depot has decided to stay in these cities due to its profitability. Efforts to address the issue include locking shopping carts, license-plate-recognition cameras, and a theft-reporting portal for employees. Chief Financial Officer Richard McPhail emphasizes that merchandise losses from theft are a top financial concern for the company. [Extracted from the article]

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