Home Depot CEO Ted Decker: Shrink & Shopping Trends 6/13/23

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 13 June 2023

⏱️ 33 minutes

🔗️ Recording | iTunes | RSS

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Summary

Home Depot CEO Ted Decker sits down with Becky Quick between cordless power tools and outdoor umbrellas in one of his New Jersey stores. In an extended interview, Decker shares how the retailer is tackling organized shoplifting crime and shifting consumer behavior. Whether the home improvement boom of the pandemic has finally fizzled out, which trends aren’t going anywhere, and Decker’s own home improvement projects, all available only on Squawk Pod. Plus, Oracle had a strong quarter, San Francisco is losing yet another city tenant, and Pat Sajak is moving on from Wheel of Fortune–but his successor is still TBD. In this episode: Ted Decker, @HomeDepot Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music please.
0:03.0	Hi, I'm C NBC producer Katie Kramer today on Squackpot.
0:09.0	Organized Retail Crime, where we have to lock things up.
0:12.0	Are the power tools the first thing that you have to lock up?
0:14.0	Home Depot CEO Ted Decker takes us inside retail's biggest problem.
0:20.0	And in the store, we're, you know, we hate doing it.
0:22.0	We've had to lock up a lot of high value items.
0:25.4	Straight from the floor of the Dow's biggest retailer.
0:28.1	Will you reach the point where there are stores you have to shut down?
0:30.5	This isn't the random shoplifter anymore. These are organized crime
0:35.1	rings. An extended interview on the problem of shrink and a marked change in
0:40.4	consumer behavior. But there was such a shift of spend from services to goods, and particularly home improvement goods.
0:48.0	How doers are getting more done and how Home Depot finds growth.
0:52.0	Housing were super bullish.
0:54.3	That big interview today,
0:56.2	plus Oracle's Strong Quarter, Real Estate's
0:59.2	really big problems, and Paps Sayjack
1:01.8	spinning the Wheel of Fortune to its next host.
1:04.3	Do you want the job?
1:05.3	No, no, I can't do it myself.
1:06.8	I told you, I need all the letters.
1:09.9	It's Tuesday June 13, 2023.
	...

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