![]() Retailers including Target have blamed recent store closures on surging retail crime. The reality is retailers and law enforcement agencies continue to experience daily incidents of theft, partner in large-scale investigations and report recoveries of stolen retail goods into the millions of dollars." "At the same time, we recognize the challenges the retail industry and law enforcement have with gathering and analyzing an accurate and agreed-upon set of data to measure the number of incidents in communities across the country. ![]() ![]() "We stand behind the widely understood fact that organized retail crime is a serious problem impacting retailers of all sizes and communities across our nation," the NRF said in a statement. It has since amended the report to make clear that Dugan was citing 2016 statistics representing total retail shrink - not the share attributable to organized theft. It was based on a statement Dugan made in 2021 Senate testimony, the group added. The statement that half of all missing merchandise, known in the retail industry as "shrink," was attributable to crime was "a mistaken inference," the NRF said in a statement to CBS MoneyWatch. But the lobbying group has since retracted the figure, saying the report from the group relied on an inaccurate figure from Ben Dugan, president of the National Coalition of Law Enforcement and Retail. In a report on what it calls "organized retail crime," the National Retail Federation (NRF) initially said theft results in $45 billion in annual losses for retailers, roughly half of the industry's total of $94.5 billion in missing merchandise in 2021. Cities, retailers increase security as crime concerns grow ahead of holiday shopping season 02:33Ī national trade group representing retailers incorrectly attributed half of all industry losses two years ago to organized shoplifting, raising questions about how much merchandise thefts are weighing on retail chains' financial results.
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