Locking up merchandise at drugstores and discount retailers hasn’t curbed retail theft but is driving frustrated consumers to shop online more. Retail crime is eating into retailers’ profits and high theft rates are also leading to a rise in store closures. Secured cases can cause sales to drop 15% to 25%, Joe Budano, CEO of […]
Inflation has led to price surges at grocery stores, car dealerships and even dine-in restaurants nationwide. A new study finds it’s also the main motive behind another recent surge: shoplifting. More than 20% of Americans have admitted to stealing items from stores within the past year or so, according to a new survey from personal […]
Retailers are braving a new crime wave that promises to be one of the most violent theft tactics yet. A van earlier this month crashed into Seattle boutique Rush Hour before thieves ran out and grabbed inventory. Just a few days later, the robbers were back, taking even more high-ticket items than the first time. […]
In a May earnings report, Brian Cornell, CEO of Target, said that a loss of inventory is expected to reduce the company’s profits by more than $500 million compared to the previous year. While he said there were “many potential sources,” theft and organized retail crime were becoming “increasingly important drivers.” The corporate disclosure was […]
Lawmakers in California are hoping to push through controversial legislation that would ban retail staff from stopping thieves stealing from their stores. Senate Bill 553, which was submitted by State Senator Dave Cortese, has been passed by the State Senate and will now progress to policy committees in the State Assembly. Cortese hopes the proposed […]
