WESLEY CHAPEL, Fla. — Shoplifters and dishonest employees swindled more than $6 billion from 24 major retailers in 2011, according to a new survey by loss prevention consulting firm Jack L. Hayes Int’l.
The 24th annual “Retail Theft Survey” examined 24 large retail companies with more than 18,000 stores with sales exceeding $589 billion in 2011. Surveyed retailers apprehended more than one million shoplifters and dishonest employees last year, an increase of almost 6% from 2010.
The retailers recovered more than $161 million from apprehended shoplifters and dishonest employees in 2011, up 11.4% compared to the previous year.
“It should be noted that shoplifter apprehensions and recovery dollars have increased eight of the past 10 years,” says Mark Doyle, who is president of Jack L. Hayes Int’l. “The seriousness of retail theft is a much greater problem than many people realize. These theft losses are driving retail prices higher and putting some stores out of business.”
For complete survey results, click here.