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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 ...
The National Retail Federation estimates that retailers lost $40.5 billion to external theft, including organized retail crime, in 2022. That represented about 36% of total inventory losses ...
“The defendants ran a widespread fencing operation that offered stolen merchandise for sale far below retail prices,” Katz said, adding that the Guzmans made more than $2 million in their ...
Police in California released a video of a trio of alleged shoplifters who were shocked to find out that the penalty for their crime had recently changed.. In the viral surveillance video shared ...
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% ...
Authorities confirmed in a social post that $3,000 in stolen goods was recovered, including purses, clothing, toys & beauty products. Merchandise from other separate thefts was also reclaimed.
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 ...
The analysts noted that overall shrink — merchandise losses due to external and internal theft, damaged products, inventory mismanagement and other errors — makes up just 1.5% to 2% of ...