But some retail analysts and researchers, bolstered by local crime statistics, say stores may be over-stating the extent and impact of theft.
Mentions of “organized retail crime” on companies’ earnings calls increased 43% from January through August from a year ago, the Chamber of Commerce found.
Cities and states are passing new laws with harsher punishments for organized retail crime offenses and shoplifting.
A Target spokesperson said that organized retail crime increased 50% in its stores since 2021.
According to the Chamber of Commerce, 12 states have created new statutes, revised existing statutes, or created enhanced penalties for organized retail crime.
Persons:
William Blair, Dylan Carden, Phillip Blee, James Kehoe, Kehoe, Alex Vitale, ”, Donald Trump, Judd Legum, Blair, “, Pew
Organizations:
New, New York CNN — Retailers, Retailers, “, National Retail Federation, Walgreens, Brooklyn College, Commerce, U.S . Chamber of Commerce, Republican, Costco, Chamber of Commerce, Pew
Locations:
New York, U.S, San Francisco, Oakland, Seattle, Portland