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Retailers report losses of $37.4 billion to theft

IN BRIEF / RETAIL

November 23, 2006|From Reuters

U.S. retailers lost $37.4 billion to theft last year, up about 20% from 2004, hurt by gangs of professional shoplifters, a survey said.

The annual survey, which analyzed data from 146 of the largest U.S. retail chains, found that the average loss per theft jumped to $854 in 2005 from about $621 in 2004, largely because of a rise in organized retail crime. Employee theft remained the biggest source of losses.

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