business news in context, analysis with attitude

The National retail Federation (NRF) is out with its fifth annual Organized Retail Crime survey, reporting that nine out of ten retailers (92%) say that their companies were victims of organized retail crime during the past year, up eight percent from 2008.

Nearly three-fourths (73%) of retailers also reported the level of organized retail crime activity has increased over the past 12 months, an increase of 11 percent from 2008.

According to the study, “42 percent of retailers say their company is allocating additional resources to address organized retail crime. According to the survey, the average retailer spends approximately $215,000 annually just on labor costs to fight organized retail crime. Some retailers surveyed spend far more, with six percent of respondents spending more than $1 million dollars a year to employ loss prevention executives devoted to organized retail crime.”
KC's View: