For the past year or so, a bevy of retailers have sounded the alarm on theft in their stores.
The word “shrink” — an industry term referring to the overall loss of inventory for a variety of reasons, including shoplifting — dominated earnings calls. Executives at companies like Target, Ulta and Home Depot blamed organized theft at their stores for ballooning shrink levels and weaker earnings. Retailers responded with beefed-up security, investments in anti-theft technology, locked-up merchandise and in extreme cases, store closures.
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