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Organized retail crime (ORC) refers to professional criminal enterprises ranging from regional gangs to international crime rings and other organized crime focusing on retail environments. Operations include truckjacking , shoplifting , smash and grab , cargo theft , and cargo diversion.
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.
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.
Gas theft cost the industry $109 million in 2008 and $134 million in 2007. The average loss per store in 2009 was $761, and that figure is conservative, since it only includes reported thefts and is based on all convenience stores that sell gasoline, including those in states that mandate full-serve ( New Jersey and Oregon ) and stores in areas ...
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 ...
Bensalem’s post-pandemic theft rate aligns with a trend seen across Pennsylvania, where retail theft reports are up 30% statewide, McVey said. Suspects are also becoming more brazen, he said.
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 .
Retail shrink — the loss of items to retail theft, organized crime, damage, vendor fraud, and other factors — was a $112 billion problem for the industry in 2022, according to the National ...