We know that your week can get busy, and the time you have to catch up on the news from around the retail loss prevention industry is often stolen away by other things. That’s why the LPM team sifts through headlines from all over the country to bring only the most relevant LP news to you here, in our special weekly news round-up—the perfect bookend to a productive week.
Here’s What You May Have Missed
NRF CEO Calls Retail Theft a ‘Financial Tragedy’ for Businesses
National Retail Federation CEO Matt Shay joined ‘Cavuto: Coast to Coast’ to discuss the retail market as consumers continue to fight off the economic impact of inflation.
3 Arrested for $100K Retail Theft Across Bay Area
Three suspects were arrested in connection to a series of organized retail thefts of businesses across the San Francisco Bay Area. Authorities neither specified when the arrests were made or where the victim businesses were located.
Credit Card Competition Act Causing Confliction
The Credit Card Competition Act of 2023 would enhance credit card competition and choice in order to reduce excessive credit card fees, but some feel it will cause more harm than good.
6 Individuals Rob Gucci Store at Camarillo Premium Outlets
Dozens of handbags and wallets were stolen from Gucci at the Camarillo Premium Outlets, and authorities continue to search for 6 suspects as part of the organized retail theft.
Target Is Closing 9 Stores Due to ORC
Target is shuttering nine stores in four states because mounting thefts and organized retail crime at those locations is jeopardizing the safety of workers and customers.
‘Unprecedented’ Theft Contributed to $112B in Retail Losses in 2022
Losses from retail crime ticked up in 2022, causing many retailers across the country to change the way they do business, according to a survey released on Tuesday by the National Retail Federation.