Retail Theft Isn’t Actually Increasing Much, Major Industry Study Finds
September 26, 2023
The National Retail Federation’s latest survey reveals that despite heightened attention to retail theft, the impact on retailers’ profits remains consistent with previous years. Total retail shrink rose to over $112 billion in 2022, up from $93.9 billion in 2021, largely in line with increased retail sales. While concerns about crime’s effect on profits are on the rise, both internal and external theft rates in 2022 remained consistent with historical trends, with external theft (including organized retail crime) accounting for 36.15% of total shrink.
Recent News
Diamond Industry Shakeup: Anglo Divorces De Beers
The diamond industry is facing a seismic shift as Anglo American Plc announces plans to part ways with its iconic De Beers business.
Home Depot’s First-Quarter Revenue Disappoints
Home Depot, a major player in the home improvement retail sector, recently released its fiscal first-quarter earnings, revealing a complex picture of consumer behavior influenced by economic factors. While the company’s earnings per share exceeded expectations, its revenue fell short, indicating a trend of deferred spending among customers.
Amazon Web Services CEO Steps Down
In a significant shift within Amazon Web Services (AWS), CEO Andy Jassy recently announced that Adam Selipsky, who has steered the company for the past three years, will be stepping down to pursue fresh challenges.
GameStop Stocks Make a Comeback
GameStop stock skyrocketed by over 60% on Tuesday, following a surge of 74% the previous day.