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The retail apocalypse may be happening sooner than expected. Retail store closures in America just hit the highest level since the pandemic — and are expected to rise to about 15,000 in 2025.
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.
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% ...
$7.8 million in stolen items recovered, over 1,000 arrests by California retail theft task force. Rosalio Ahumada. September 18, 2024 at 12:53 PM ... would crack down on retail theft and fentanyl ...
Research published by global retail analyst IHL Group in 2019 suggests that the so-called retail apocalypse narrative was an exaggeration, with "more chains that are expanding their number of stores than closing stores.” [7] That year, retailers in the United States announced 9,302 store closings, a 59% jump from 2018, and the highest number ...
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 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.