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In the retail industry, the word shrinkage (or shrink) is used to refer to merchandise often lost by shoplifting. The term five-finger discount is an euphemism for shoplifting, humorously referencing stolen items taken "at no cost" with the five fingers. The first documented shoplifting started to take place in 16th century London. By the early ...
A uniformed retail loss prevention employee for Target. Known as a Target Security Specialist . Retail loss prevention (also known as retail asset protection) is a set of practices employed by retail companies to preserve profit. [1] Loss prevention is mainly found within the retail sector but also can be found within other business environments.
[10] 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 ...
“Retail theft” means the taking possession of or carrying away of merchandise, property, money, or negotiable documents; altering or removing a label, universal product code, or price tag ...
Shrink can be the result of theft, damage, or poor record keeping, among other factors. In its second quarter report, Target's 28.9% gross profit margin beat estimates, up from 27% a year ago.
Operations by the California’s Organized Retail Crime Task Force, which formed in 2019, have led to 1,055 arrests and the recovery of more than $7.8 million worth of stolen merchandise, the ...
Possession of stolen goods is a crime in which an individual has bought, been given, or acquired stolen goods.. In many jurisdictions, if an individual has accepted possession of goods (or property) and knew they were stolen, then the individual may be charged with a crime, depending on the value of the stolen goods, and the goods are returned to the original owner.
The scale of merchandise theft, Kubrin added, is sometimes overblown by a retail industry happy to pin its problems, which include market forces such as inflation and a shift to online shopping ...