Michael K Houser's Blog

Shoplifters and dishonest employees stole more than $6.0 billion in 2008 from just 22 major retailers, according to the 21st Annual Retail Theft Survey conducted by Jack L. Hayes International, the leading loss prevention and inventory shrinkage control consulting firm. These 22 surveyed retailers apprehended a record 904,226 shoplifters and dishonest employees in 2008 and recovered more than $182 million from these thieves.

“For the third consecutive year, both the apprehensions and recovery dollars from shoplifters and dishonest employees rose; up 7.26 percent and 21.64 percent respectively,” said Mark R. Doyle, president of Jack L. Hayes International. “While shoplifter and dishonest employee apprehensions increased 7.65 percent and 3.01 percent respectively, the increase in recovery dollars from these apprehensions was up an amazing 30.24 percent for shoplifting and almost 10 percent for dishonest employees. It should also be noted that employee theft apprehensions and recovery dollars increased for the fifth straight year.

“With the downturn in the economy, we have seen an increase in theft, which is having a detrimental impact on retailers’ bottom-line profits. These theft losses drive consumer prices higher and can force unprofitable stores to close.”