Search results
Results from the WOW.Com Content Network
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 .
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% ...
The true severity and scope of the problem remain an enduring mystery of the free market, as national chains eagerly point to retail theft as a key drag on profits, but are reticent to publicly ...
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. In ...
"Shrink," or retail theft, is a billion-dollar problem for the retail industry. And unlike the popular culture image of a teen shoplifter looking for a rush, the real culprit is often organized ...
Retail theft rates also varied by county, with the Bay Area seeing the largest uptick in shoplifting from 2019 to 2022. Commercial burglary increased in many of the state’s largest counties but ...
Report shows theft is costing the retail industry $100 billion. 'This isn't a random shoplifter anymore': Home Depot CEO warns retail theft is a 'big problem' as the chain bolsters security, even ...
The industry uses the term "shrink" to describe any hit to inventory, including from retail theft, employee theft, vendor fraud, damage, administrative errors, and other causes.