As the holiday season draws on, groups of thieves break out at stores across the United States
why it matters: Organized retail crime costs on average at retailers $700,000 per $1 billion According to estimates from the National Retail Federation, in annual sales, more companies are blaming the shoplifting crisis for store closures and declining profits.
state of play: On Monday, a group of 20 burglars used a sledgehammer and an e-bike to try and steal from Nordstrom at The Grove, a luxury mall in Los Angeles.
- On Friday evening, a group of thieves ransacked several stores in San Francisco’s Union Square shopping district, ransacking luxury stores including Louis Vuitton, Burberry and Bloomingdales, AP informed of.
- On Saturday night, about 80 people robbed and assaulted employees at a Nordstrom in Walnut Creek, a town about 25 miles northeast of San Francisco. CBS SF Bay Area,
organized shoplifting exploits This weekend also affected other parts of Northern California, including Hayward and San Jose San Francisco Chronicle informed of.
- Last week more than a dozen burglars robbed a Louis Vuitton store in Chicago, stealing more than $100,000 worth of merchandise per day. CNN,
- Last month, Walgreens announced it was closing five San Francisco stores due to a rise in “organized retail crime”. new York Times informed of.
Best Buy Tuesday accused of organized theft as a reason behind the decline in gross profit margin in Q3. The news affected the company’s share price.
- California Gov. Gavin Newsom has vowed to step up security measures to combat the increase in thefts every year. Press release from the office of the Governor.
What are they saying: “This is painful and unacceptable to our partners,” Best Buy CEO Corey Barry said Tuesday of the rise of organized crime on a call with analysts. CNN,
- Governor Gavin Newsom of California addressed recent robberies on Monday, saying he had “no sympathy for people sabotaging and grabbing…spreading havoc and terror on our streets” ” Is.
go in: Companies use technology to curb retail crime