gerald storch joining aside whag important thing ahead ofo next week, stay with us. thank you! savings. with voya, considering all your financial choices together... can help you make smarter decisions. for a more confident financial future. hey, a tandem bicycle. you can't do that by yourself. voya. well planned. well invested. well protected. health insurance. it's often hard to know which way to go. it's nice to have options, but too many can be confusing. for instance, if you have medicare, you may be able to get a plan with extra benefits if you know where to look. a licensed humana sales agent can help show you the way. take humana's medicare advantage prescription drug plans. these are convenient, all-in-one plans that offer all of the benefits of original medicare, plus add extra benefits. with a humana medicare advantage prescription drug plan, you'll have doctor, hospital and prescription drug coverage in one convenient plan. but that's just the beginning. because every humana medicare advantage prescription drug plan also includes dental coverage with two free cleani

been no arrests so far, joining us now the former ceo of toys "r" us and target vice chairman gerald storchyou for being here. i know in your industry they call it shrink. >> that is certainly a big part, it also includes employee theft in all the books, the biggest part these days is simple theft. maria: what does that mean for the retailers in addition to having the whole community scared and watching their backs, what has this member retailer the theft. >> and puts more pressure on sales and profit during a challenging time for retailers, someone's gotta pay for this, prices need to go up, meanwhile to mitigate some of this you see retailers putting more products behind lock cases and things like that we called the asset protection department a responsible for managing the sin stores, we call them the sales prevention department because once you lock stuff up, the sales go down because it's harder for consumers to get the item. the pain in the neck for everyone and overall we have to remember the retail theft whether the store or the amazon truck you were talking about or last year peopl

gerald storch joins me now. gerald, great to see you.t sure who made who famous, but it's great to see you. you've got your finger on the pulse of retail. are people, because of all the crime in stores and err problems, are -- and other problem, are people going to be doing more online shopping this year? >> i think on balance it may shift a little bitten online, but factors you mentioned earlier were much more significant in what's going on with retail sales. the consumer spent a lot during the pandemic. they have something of a hangover from all that. they don't really need too much else, and besides, the money's running out. credit card balance are going up, delinquencies are going up. so this is going to be one of the toughest holidays in terms of growth in spending year-over-year that we've seen probably in 15 years. david: and just to put a phone t issue, 25% of americans have 2022 debt left over from last year. and that is -- 25% are paying debt at, what is it, it's also about 25% interest rate on that credit card debt. that's a h

gerald storch is with me. we just lost the video feed. what happened yesterday? he is back.xpression strong to describe consumer spending over the thanksgiving weekend. you are retail expert and you say i got it totally wrong. straighten me out. go right ahead. >> i would never say totally wrong. i know how much i love facts. the report everyone is referencing from adobe analytics only covers e-commerce and online sales are at a record. they are not growing, nothing is growing. they are taking massive market share, september of this year online sales 87% versus last year. last month up 7 points. lack -- black friday was 7%. the same increase we see for a long time. e-commerce is only 1/4 of all retail sales. the rest happen in brick and mortar stores. the closer we get this to christmas the closer we come. what happens over the weekend in physical stores when everyone was shopping online on their mobile phone. the answer is not much. it was pretty much flat. stores may be up 1%. the total, look at all retail sales, between 2, 2.5%, consistent with what we forecast for the ye