Theft Takes a Toll on Retailers' Bottom-Line Profits
More than 438,000 shoplifters and dishonest employees were apprehended in 2016 by just 23 large retailers who recovered more than $120 million from these thieves, according to the 29th Annual Retail Theft Survey by Jack L. Hayes International.
"In 2016, dishonest employee apprehensions increased almost 10%, with the dollars recovered from these dishonest employees up nearly the same amount (9.3%). While shoplifting apprehensions and the dollars recovered from these shoplifters decreased ever so slightly, 0.2% and 0.9% respectively", said Mark R. Doyle, President of Jack L. Hayes International. Doyle added, "The seriousness of retail theft is a much greater problem than most customers realize. These theft losses are stealing profits from retailers' bottom-line, which results in consumers having to pay higher prices for goods."