Brazen shoplifting schemes sweep the U.S.

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As the holiday season draws on, groups of thieves break out at stores across the United States

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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,
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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.
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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

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