Business Services Industry

Florida Retailers Struggle with Holiday Season Shoplifting.

Knight Ridder/Tribune Business News, December, 2002

By Gregory Richards, The Florida Times-Union, Jacksonville Knight Ridder/Tribune Business News

Dec. 19--Goods are flying off retailers' shelves this holiday season. And those are not even the ones being paid for.

With stores teeming with shoppers, and sales forces stretched to the max, many are finding that the opportunity is right to stuff a little something extra in their holiday shopping bags. Such retail theft erodes merchants' already thin profit margins and drives up prices for consumers. A University of Florida study found that last year, retailers lost $31.3 billion to retail theft, including that stolen by employees. That amounts to 1.7 percent of their total sales.

"From the stores point-of-view, it's a giant problem," said...

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