Home / Knowledge / News / Apparel/Garments / Shoplifting top source of retail losses for 4th year: NRF
Shoplifting top source of retail losses for 4th year: NRF
14
Jun '18
Thefts, fraud and losses from other retail ‘shrink’ decreased to $46.8 billion in 2017 from $48.9 billion the year before in the United States as shoplifting and organized retail crime continued to be the leading causes, according to the annual National Retail Security Survey released recently by the National Retail Federation (NRF) and the University of Florida.

Shoplifting and organized retail crime accounted for 36 per cent of losses, followed by internal employee theft (33 per cent), administrative paperwork errors (19 per cent) and vendor fraud or mistake (6 per cent), according to the report.

Shrink averaged 1.33 per cent of sales, down from 1.44 per cent the year before. Fifty nine per cent of retailers surveyed said shrink was flat or decreasing, up from 51 per cent. Only 41 per cent said shrink was growing, down from 49 per cent. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: Ministry of Trade and Industry, Singapore

Textiles | On 14th Nov 2018

Vietnam ratifies trans-Pacific trade pact CPTPP

Vietnam’s 14th National Assembly recently adopted a resolution...

Courtesy: Pexels

Textiles | On 14th Nov 2018

India's WPI inflation for apparel up 0.7% in October

India’s annual rate of inflation, based on monthly wholesale price...

Courtesy: EU Chamber of Commerce

Textiles | On 14th Nov 2018

PRC promises unrealised: EU Chamber of Commerce in China

The European Union (EU) Chamber of Commerce in China has said the...

Interviews View All

Top executives, Textile & apparel bodies

Top executives
Textile & apparel bodies

Textile industry would like to see inclusion of cotton yarn under MEIS and ...

Headhonchos, Indian fashion industry

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Sanjay Desai & Ashish Mulani, True Colors

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Gagan Gulati,

Gagan Gulati

PG Silk Mills Private Limited had a humble start with a hand-dyeing unit....

Rikesh Mistry,

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Riddhi Jain,

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Silke Brand-Kirsch, Schlegel und Partner

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Karl Zelik, Vanderbilt University

Karl Zelik
Vanderbilt University

A team of engineers at the Vanderbilt University has designed a smart...

Larry L Kinn, Suominen Corporation

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Cigdem Akin, Cigdem Akin

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Pranav Mishra, Huemn

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Adriano Goldschmied, AG Jeans

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


November 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search