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America's biggest retailers say organized retail crime has grown into a multibillion-dollar problem, but the effectiveness of their strategies to solve it and the validity of the data overall have come into question. However, the problem isn't as clear-cut as retailers and trade groups have made it seem. External retail crime accounts for only 37% of those losses, or about $35 billion, the NRF data shows. Still, law enforcement agencies and retailers insist organized retail crime remains an issue and said they stand behind their data. We see it every day in our stores," Scott Glenn, Home Depot's vice president of asset protection, told CNBC.
China's e-commerce market was valued at $2 trillion in 2022, according to GlobalData, and the country also has a rapidly growing middle class, making it an attractive market for American companies. Amazon entered the China market in 2004 through a $75 million acquisition of Joyo.com, an online book and media seller. The joint venture rebranded to Amazon China at the domain Amazon.cn in 2011. Between 2011 and 2012, Amazon's market share hovered at approximately 15%, but it later plunged to less than 1% by 2019, according to iResearch. Amazon officially closed its China online marketplace in July 2019.
Dean Baldwin Painting is a 57-year-old aircraft painting company based in Macon, Georgia. The Federal Aviation Administration sets the safety standards for aircraft paint, and throughout the entire painting process, the plane is continually inspected to ensure those standards are being met. Painting typically involves four to five layers but only tends to be as thick as a fraction of a millimeter. Those layers include an anti-corrosion primer, protective intermediate layers and a final outer layer, which is typically white. The global commercial aviation aircraft paint market was estimated at nearly $18.5 billion in 2020 and is expected to grow to a $65 billion market by 2027.
Lululemon is a multibillion-dollar leader in the high-end active wear category that owns and operates 600 stores, 40 of which are located in Europe. Its roots date back to 1998 when it opened as "Lululemon Athletica," a yoga-wear brand geared toward women and yoga enthusiasts. Demand for athletic wear has grown exponentially since those early days, and in 2022 Lululemon continues to lead the way, with its second-quarter revenue soaring 29% year over year. Nevertheless, the company continues to innovate and diversify into different categories and wider tech offerings. Watch the video above to learn more about what makes Lululemon a global leader in athleisure and active wear.
Target's entry into the Canadian market in 2013 was its first foray in international expansion. A combination of extensive renovation needs, a flawed merchandising system, tight time frame and inadequate leadership were some of the reasons the big-box retailer decided to close all 133 stores in the country in 2015. Target does not intend to expand internationally anytime in the near future and is instead narrowing its focus on its at-home operations. Company profit plunged nearly 90% during the second quarter from the year-earlier period on an excess of unwanted inventory. It plans to completely renovate 200 existing stores and open 30 more in 2022.
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