“Club of Knowledge Hunters”

Survey: Retail theft skyrockets

Posted by superstar23 on October 4, 2008

There are apparently a lot of sticky fingers out there. A new survey finds that shoplifters and dishonest employees stole more than $6.7 billion in property from just 24 major retailers last year.

The 20th annual Retail Theft Survey found 24 retailers, with more than 19,000 stores apprehended a record 708,962 shoplifters and dishonest employees in 2007 and recovered more than $150 million in stolen property.

One in every 28.2 employees was caught stealing from their employer last year, based on over 2.3 million employees. The survey was conducted by Jack L. Hayes International, a loss prevention and inventory shrinkage control consulting firm in Fruitland Park, Fla.

“The numbers of shoplifters and dishonest employees being caught stealing by U.S. retailers continues to amaze us, and this is a much greater problem than many people realize. Retail theft drives higher prices for the consumer, hurts our economy, and forces store and/or business closings,” said Hayes President Mark R. Doyle.



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