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Industry experts say even a small increase in crime can have massive, cascading effects that cause retailers to close stores. And stolen items can have an outsized impact on store profitability, considering the razor thin profit margins many large retailers typically operate at. “Increasing store crime is another variable in play right now for retailers,” said Zak Stambor, senior retail & ecommerce analyst with Insider Intelligence. Organized retail crimeAt issue is a particular type of store theft that loss prevention experts classify as “organized retail crime” or ORC. Last month, Dick’s Sporting Goods warned that retail theft was damaging its business and would lead to lower annual profits.
Persons: New York CNN —, , Burt Flickinger, Zak Stambor, Jane Roh, Shawn Kelly, TJ, they’re, Read Hayes, criminologist, ” Stambor, Hayes, Organizations: New, New York CNN, Strategic Resource, Insider Intelligence, eBay, Facebook, Pennsylvania Liquor Control, Police, CNN, Philadelphia, Attorney’s Office, , GS, Cheltenham Plaza, Pennsylvania Liquor Control Board, Dick’s Sporting Goods, TJX Companies, TJ Maxx, Goods, Nordstrom, Foods, University of Florida, Prevention Research Council, Walmart, Target, National Retail Federation, , Walgreens Locations: New York, Los Angeles, Chicago, Philadelphia, Cheltenham, Wyncote, Montgomery County, San Francisco
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