RICHMOND, Va. — It’s a scene that’s gone viral over and over, with social media videos showing groups of thieves brazenly stealing bags of merchandise from stores around the country. In Virginia, where a state report found that approximately $1.3 billion in merchandise is stolen this way annually, state lawmakers approved legislation Thursday that will make organized retail theft a …
Retailers are scoring one win in the governmentwide spending bill, which will force online marketplaces like Amazon and Facebook to verify high-volume sellers on their platforms amid heightened concerns about retail crime. The bill, called the INFORM ACT, It’s difficult to parse out how much money retailers are losing due to organized retail crime - or if the problem has …
A security guard watches the entrance to a Louis Vuitton store with boarded-up windows in San Francisco on Nov. 30. The country’s largest retail industry group, the National Retail Federation, estimated in its latest report that losses from organized retail theft average $700,000 per $1 billion in sales — or 0.07% of total sales — an amount roughly 330 times …
LOS ANGELES — A group of thieves smashed windows at a department store at a luxury mall in Los Angeles, triggering a police pursuit just days after high-end stores throughout the San Francisco Bay Area were targeted. Michel Moore, chief of the Los Angeles Police Department, said the agency would beef up its visible patrols around high-end stores citywide beginning …
