New York CNN —Dick’s Sporting Goods warned Tuesday that retail theft is damaging its business and would lead to lower annual profits.
Retail “shrink” is a term that refers to merchandise that goes missing due to theft, fraud, damage, accounting errors or other reasons.
The retailer reported a large number of incidents of shoplifting and organized retail crime in its stores nationwide.
Need and opportunity become forceful catalysts for driving up incidents of retail crime, experts said.
According to the National Retail Federation, the industry’s biggest trade group, large-scale store theft is becoming a bigger part of retail shrink.
Persons:
Lauren Hobart, can’t, ”, Read Hayes, criminologist, Gucci, –
Organizations:
New, New York CNN —, Goods, Walgreens, University of Florida, Prevention Research Council, Walmart, Target, National Retail Federation, eBay, Facebook, Westfield, Westfield Topanga Shopping, Nordstrom, FBI, New York Police Department, New York State, Police
Locations:
New York, Pittsburgh, Los Angeles, Chicago, Westfield Topanga, Burbank , Glendale, Beverly Hills, Santa Monica, New York City