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Texas codified specific penalties for organized retail theft back in 2007 when the crime cost businesses an estimated $2.5 billion — but since then, the crime has only become more popular.
Shoplifting (also known as shop theft, shop fraud, retail theft, or retail fraud) is the theft of goods from a retail establishment during business hours. The terms shoplifting and shoplifter are not usually defined in law, and generally fall under larceny .
The National Retail Federation does not classify these crimes as "flash mobs" but rather "multiple offender crimes" that utilize "flash mob tactics". [6] [7] In a report, the NRF noted, "multiple offender crimes tend to involve groups or gangs of juveniles who already know each other, which does not earn them the term 'flash mob'." [7]
However, the National Retail Federation (NRF) said that same month that the effect of theft on retailers’ bottom lines was about the same as in previous years, with total retail shrinkage at $112 billion in 2022 (1.55% of sales), up from $93.9 billion (1.44% of sales) in 2021. External theft, including organized retail crime, represented 36% ...
Report shows theft is costing the retail industry $100 billion. ... For premium support please call: 800-290-4726 more ways ... but a growing trend of organized retail crime is now not just eating ...
Target is trying to thread the needle as it combats retail's long-running problem: store theft."I feel so much better today than I did a year ago," Target CEO Brian Cornell said in an interview ...
To help track the severity of retail theft, Krol’s team has created an AI-powered analytics tool called RAVEN that uses machine learning to consolidate crime data across multiple jurisdictions.
In February, California Atty. Gen. Rob Bonta filed criminal charges against a woman he called the ringleader of a retail theft group prosecutors say stole nearly $8 million in beauty products to ...