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Article: Executives cite organized retail theft as top issue.
- Article from:
- Fairfield County Business Journal
- Article date:
- July 11, 2005
CopyrightCOPYRIGHT 2005 Westfair Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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More than three-fourths of executives polled in a survey said their company has been a victim of organized retail theft in the past 12 months and 46 percent said they have witnessed an increase in organized criminal activity over the past year.
In addition, 61 percent believe that organized retail theft accounts for the majority of the shrinkage dollars lost in their company due to external theft. As a result, 51 percent are allocating additional resources to address this rising problem in their companies.
"From small 'mom and pop' stores to big-box retailers, the entire retail industry is feeling the impact of this growing problem," said Joseph LaRocca, ...