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A CVS store manager was killed on the job by a man suspected of shoplifting, police say — the latest example of a US retail theft epidemic that is becoming increasingly deadly.

Michael Jacobs, 49 — an operations manager at CVS Pharmacy in Mesa, Ariz., where he had worked for the past 20-plus years — was shot and killed allegedly by Jared Sevey in the evening hours of Sept. 7, according to KKTV 11 News.

Sevey, 39, was reportedly inside the Arizona CVS location earlier that day, arguing with Jacobs about shoplifting, KKTV reported. After the conflict, Sevey went home to get a gun.

Sevey admitted to police that he shot Jacobs because he was “tired of being bullied,” and “this was the last straw,” according to the news outlet.

The Post has sought comment from CVS, which has already resorted to installing built-in locks on freezer doors and putting padlocks around necessities like deodorant and toothbrushes at its locations in major US cities.

Jacobs left behind two children and his wife of 23 years, Stacy. Jacobs’ family has started a GoFundMe page, saying that “CVS has not even reached out to us to discuss medical expenses along with funeral expenses.” The GoFundMe has already collected over 200 donations totaling $15,402.

It’s the latest incident in a lethal trend. In April, a 26-year-old Home Depot employee was fatally shot after confronting a woman attempting to steal from the home improvement retailer’s Pleasanton store, located in the San Francisco Bay Area, according to KKTV.

Just days earlier, a pregnant shoplifter at a Walgreens in Nashville was shot by a staffer following a confrontation over stolen merchandise that resulted in an exchange of Mace and bullets. The wounded mother-to-be was rushed to the hospital, where doctors performed an emergency C-section, saving the baby and 24-year-old mother’s life.

The Walgreens worker was later charged by the Davidson County District Attorneys Office with aggravated assault, but a grand jury declined to indict him earlier this week. The new mother, meanwhile, was indicted for theft and assault.  

Representatives for Home Depot and Walgreens didn’t immediately respond to The Post’s request for comment.

Stories of seemingly consequence-free shoplifting are everywhere: There’s an epidemic of drugstore thefts in New York, and a landmark grocery store in Baltimore shut its doors after nearly 25 years after a community desperate for fresh food resorted to simply stealing it.

Experts have blamed the surge on lax policies — including the passage of Prop 47 in California, which reduced theft from a potential felony to a misdemeanor — as well as calls to defund the police in 2020 following the murder of George Floyd, which resulted in a mass exodus of cops nationwide.

In New York City, dubbed a “shoplifter’s paradise” by some fed-up local politicians, Manhattan District Attorney Alvin Bragg has faced blowback over his not requesting bail for some repeat shoplifting suspects. Bragg also has refused to bust thieves unless they pilfer items exceeding $1,000 in value, which is when theft becomes a felony.

A furor erupted in July after CVS worker Scotty Enoe, 46, fatally knifed Charles Brito after the 50-year-old serial thief punched him. Can Alvin Bragg maybe help with that?” fumed City Council Minority Leader Joe Borelli (R-Staten Island). “He just chooses not to prosecute and we end up with vigilante justice.”

With no nationwide policy on how to deal with shoplifting, many employers have encouraged staffers to do nothing at all in an effort to keep them out of harm’s way.

Lululemon became notorious for its hands-off policy after the athletic gear company axed two employees who called the police while three masked men robbed a Georgia outpost.

The company cited its zero-tolerance policy for intervening in a robbery as a reason for firing the workers, whom Lululemon refers to as “educators.”

A Walmart in Atlanta, meanwhile, will be installing a police workspace inside the store when it opens in May. The grocery store and pharmacy previously closed after it was set on fire by suspected arsonists.

The shoplifting epidemic cost retailers nearly $100 billion in 2021, and the number of shoplifting complaints surged to more than 63,000 last year — a 45% jump over the roughly 45,000 reported in 2021 and a nearly 275% jump compared to the mid-2000s, police statistics show.

Now, Bragg in New York is reportedly working to snuff out shoplifting by going after repeat offenders. Part of his plan includes focused deterrence, meaning pre-trial detention will be requested for accused thieves who have prior felony convictions, multiple open cases and a history of skipping out on court dates.

New York also has implemented an initiative dubbed the Merchants Business Improvement Program, which allows business owners to get restraining orders against suspects who repeatedly come into their stores and steal or harass workers, officials said last month.

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UK

Rachel Reeves is celebrating the Bank of England’s interest cut – but behind the scenes she has little to cheer

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Rachel Reeves is celebrating the Bank of England's interest cut – but behind the scenes she has little to cheer

The economy is stagnating and job losses are mounting. Now is the time to cut interest rates again.

That was the view of the Bank of England’s nine-member rate setting committee on Thursday.

Well, at least five of them.

The other four presented us with a different view: Inflation is above target and climbing – this is no time to cut interest rates.

Who is right? All of them and none of them.

Central bankers have been backed into a corner by the current economic climate and navigating a path out is challenging.

The difficulty in charting that route was on display as the Bank struggled to decide on the best course of monetary policy.

The committee had to take it to a re-vote for the first time in the Bank’s history.

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Bank of England is ‘a bit muddled’

On one side, central bankers – including Andrew Bailey – were swayed by the data on the economy. Growth is “subdued”, they said, and job losses are mounting.

This should weigh on wage increases, which are already moderating, and in turn inflation.

One member, Alan Taylor, was so worried about the economy he initially suggested a larger half a percentage point cut.

On the other side, their colleagues were alarmed by inflation.

The Bank upgraded its inflation forecasts, with the headline index expected to hit 4% in September.

In a blow to the chancellor, the September figure is used to uprate a number of benefits and pensions. The Bank lifted it from a previous forecast of 3.75%.

In explaining the increase, the Bank blamed higher utility bills and food prices.

Food price inflation could hit 5.5% this year, an increase driven by poor harvests, some expensive packaging regulations as well as higher employment costs arising from the Autumn Budget.

Rachel Reeves on Thursday. Pic: PA
Image:
Rachel Reeves on Thursday. Pic: PA

When pressed by Sky News on the main contributor to that increase – poor harvests or government policy – the governor said: “It’s about 50-50.”

The Bank doesn’t like to get political but nothing about this is flattering for the chancellor.

The Bank said food retailers, including supermarkets, were passing on higher national insurance and living wage costs – the ones announced in the Autumn Budget – to customers.

Economists at the Bank pointed out that food retailers employ a large proportion of low wage workers and are more vulnerable to the lowering of the national insurance threshold because they have a larger proportion of part-time workers.

The danger doesn’t end there.

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Of all the types of inflation, food price inflation is among the most dangerous.

Households spend 11% of their disposable income, meaning higher food price inflation can play an outsized role in our perception of how high overall inflation in the economy is.

When that happens, workers are more likely to push for pay rises, a dangerous loop that can lead to higher inflation.

So while the chancellor is publicly celebrating the Bank’s fifth interest rate cut in a year, behind the scenes she will have very little to cheer.

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UK

Tropical Storm Dexter to bring potential heatwave next week

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Tropical Storm Dexter to bring potential heatwave next week

Remnants of Tropical Storm Dexter will bring an increase in temperatures over the weekend, with highs of 34C possible next week.

A heatwave could be registered in parts of the South early next week and could spread more widely if temperatures hold.

Temperatures of 28C (82F) are possible in the South on Sunday, reaching 30C (86F) across parts of England on Monday before getting closer to 34C (93F) on Tuesday.

Pic: Joe Giddens/PA
Image:
Pic: Joe Giddens/PA

Warm and muggy nights are to be expected, especially in the South.

Conditions will be more unsettled in the North, with strong winds and rain at times.

People punting along the River Cam in Cambridge last month. Pic: PA
Image:
People punting along the River Cam in Cambridge last month. Pic: PA

In its forecast the Met Office said Friday will be a brighter day for many, with sunny spells across southern and central areas and highs of 25-26C expected. Northern Scotland will be breezy with showery outbreaks of rain.

Saturday will also see sunny spells for much of England and Wales, but there will be some rain in northern areas, paritcularly northern Scotland.

People enjoying the hot weather on Sunny Sands beach in Folkestone last month. Pic: PA
Image:
People enjoying the hot weather on Sunny Sands beach in Folkestone last month. Pic: PA

A weather front moving in from the west will bring rain to Northern Ireland, parts of Scotland and possibly northern England by Sunday evening, while central and southern areas are expected to remain dry with sunny spells.

Temperatures will begin to rise in the South from Sunday evening, as the remnants of Tropical Storm Dexter “draws warm air up from the southwest across the UK”, the Met Office said.

Temperatures are expected to exceed 30C across parts of central, southern and eastern England on Monday and Tuesday, the forecaster added.

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“We’re confident that temperatures will increase markedly by the start of next week, reaching the low 30s Celsius in parts of England on Monday and perhaps the mid 30s in a few places on Tuesday,” said Met Office deputy chief meteorologist Steven Keates.

“However, the length of this warm spell is still uncertain, and it is possible that high temperatures could persist further into next week, particularly in the south.”

“Ex-Dexter sets the wheels in motion for an uptick in temperatures, but the weather patterns then maintaining any hot weather are rather more uncertain”.

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Technology

Omada Health beats on revenue in first earnings report since IPO

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Omada Health beats on revenue in first earnings report since IPO

The Omada Health logo is displayed on a smartphone screen.

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Omada Health reported quarterly results for the first time since its IPO in June.

Here’s how the company did based on average analysts’ estimates compiled by LSEG:

  • Loss: Loss per share of 24 cents.
  • Revenue: $61 million vs. $55.2 million expected

The virtual care company’s revenue increased 49% in its second quarter from $41.21 million a year earlier. The company reported a net loss of $5.31 million, or a 24-cent loss per share, compared to a net loss of $10.69 million, or $1.40 loss per share, during the same period last year.

“We believe our Q2 performance reflects Omada’s ability to capture tailwinds in cardiometabolic care, to effectively commercialize our GLP-1 Care Track, and to leverage advances in artificial intelligence for the benefit of our members,” Omada CEO Sean Duffy said in a release.

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For its full year, Omada expects to report revenue between $235 million to $241 million, while analysts were expecting $222 million. The company said it expects to report an adjusted EBITDA loss of $9 million to $5 million for the full year, while analysts polled by FactSet expected a wider loss of $20.2 million.

Omada, founded in 2012, offers virtual care programs to support patients with chronic conditions like prediabetes, diabetes and hypertension. The company describes its approach as a “between-visit care model” that is complementary to the broader health-care ecosystem.

The stock opened at $23 in its debut on the Nasdaq in June. At market close on Thursday, shares closed at $19.46.

Omada said it finished its second quarter with 752,000 total members, up 52% year over year.

The company will discuss the results during its quarterly call with investors at 4:30 p.m. ET.

WATCH: Omada Health CEO Sean Duffy on IPO debut: Today is the right moment for us

Omada Health CEO Sean Duffy on IPO debut: Today is the right moment for us

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