Storch Advisors CEO and former Toys”R”Us CEO Gerald Storch reacts to a new report which found shoplifting surged 24% across the U.S. so far this year.
Despite enhanced safety measures, retail theft remains a significant challenge for business, potentially costing the industry more than $140 billion in 2025, according to recent estimates.
By 2026, researchers at Capital One projected losses could surpass $150 billion.
The bank already estimated that retailers lost $121.6 billion to retail theft last year. That’s up from the $112.1 billion loss in gross revenue and $84.9 billion hit from fraudulent sales returns they experienced in 2022, according to Capital One’s most recent data published at the end of October.
TARGET EXEC WARNS RETAIL SHRINK REMAINS ‘SIGNIFICANT HEADWIND’
David Johnston, National Retail Federation (NRF) vice president of asset protection and retail…
