{"id":1996689,"date":"2023-08-10T14:06:02","date_gmt":"2023-08-10T18:06:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/retail-crime-sprees-could-be-exacerbated-by-internal-errors-and-employee-theft\/"},"modified":"2023-08-10T14:09:52","modified_gmt":"2023-08-10T18:09:52","slug":"retail-crime-sprees-could-be-exacerbated-by-internal-errors-and-employee-theft","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/retail-crime-sprees-could-be-exacerbated-by-internal-errors-and-employee-theft\/","title":{"rendered":"Internal errors and employee theft may worsen retail crime sprees."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fretail-crime-sprees-could-be-exacerbated-by-internal-errors-and-employee-theft%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1996689&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Retailers Overstate Theft as Cover for Internal Issues, Report \u2062Suggests<\/h2>\n<p>Retailers across the country have been facing a \u2064surge in theft, both in-store and online. However, a new report\u2062 indicates that some businesses may have\u200d been exaggerating the extent of <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidens-america-retailers-opt-for-empty-shelves-to-prevent-theft\/\" title=\"Biden\u2019s America: Retailers Opt for Empty Shelves To Prevent Theft\">external theft<\/a> to mask internal problems, such as \u200demployee theft.<\/p>\n<p>During the first quarter earnings, major retailers attributed their shrinking margins to organized theft by gangs and\u200d an increase in smash-and-grab incidents. This\u2063 issue is\u2064 expected to resurface when these companies \u2064report their second-quarter earnings\u200d next week.<\/p>\n<blockquote>\n<p>&#8220;Some companies \u200bhave\u2062 since identified theft from employees as \u200ba major contributor to losses, even as they blame external theft\u200d in \u200dpublic,&#8221; said an anonymous source.<\/p>\n<\/blockquote>\n<p>Retail analyst Neil Saunders\u200d acknowledges that while shrinkage \u200bhas been on the\u200d rise, it is challenging to determine the \u200dexact proportion attributed to\u2063 theft versus <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/taking-away-the-male-gaze-some-women-want-to-keep-wearing-masks-indefinitely\/\" title=\"\u2018Taking Away The Male Gaze\u2019: Some Women Want To Keep Wearing Masks Indefinitely\">internal issues<\/a> and mistakes made by retailers.<\/p>\n<p>Shrinkage \u2063refers to the\u200c discrepancy between the \u200cexpected inventory \u2064and the actual inventory held by a retailer. It can result from\u200b various factors, including shoplifting, employee \u200ctheft, cashier errors, and damaged goods. Saunders \u2063believes that theft and shoplifting are \u200boften used as\u200b a convenient explanation \u2062for broader performance issues.<\/p>\n<blockquote>\n<p>&#8220;It is a problem, we know \u200cthat, it does take money off margins, we\u2063 know that, but there\u2019s too \u2062much opacity \u2062in the way in which it\u2019s reported, and it is being partly \u2063used as an excuse \u2062for generally bad performance,&#8221; \u200bSaunders explained.<\/p>\n<\/blockquote>\n<p>While there is no definitive data on whether employees steal more\u200d than shoplifters, it may be easier for employees to engage in theft due to their familiarity with a store&#8217;s security vulnerabilities and \u2062the \u2063ability\u2064 to carefully plan \u200dtheir actions. \u200cAdditionally,\u2062 internal theft can go unnoticed for extended periods because it is easier to conceal.<\/p>\n<p>Warehouses and locations \u2064where\u200d online orders are\u200b prepared are particularly susceptible to internal theft. Employees may collaborate with others or exploit their positions to\u2062 add extra items\u2062 to orders.<\/p>\n<p>One recent \u2064case involved a former Amazon warehouse operations \u200cmanager who,\u200d along with two accomplices, stole $9.4 million over a span of 18 months. The \u200cmanager\u2063 used her position to submit fake invoices\u200b for non-existent vendors, resulting in fraudulent proceeds being transferred to her\u200c and \u200dher co-conspirators&#8217; bank accounts.<\/p>\n<p>While instances of employee theft are well-documented, some <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/retail-crime-sprees-could-be-exacerbated-by-internal-errors-and-employee-theft\/\" title=\"Internal errors and employee theft may worsen retail crime sprees.\">small business \u2063owners argue<\/a> that the claims made in the \u2063report undermine\u200b their\u200c experiences. Deborah Koenigsberger, a New York City small business owner,\u2062 emphasized \u2064that while there may be isolated cases of employee \u2062theft, the majority of retailers and\u200c their staff are honest and struggling\u2062 to survive.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Retailers nationwide face increasing theft, both in-store and online. However, a recent report indicates that these businesses may have exaggerated the extent of organized theft to conceal internal problems like employee theft. In their first-quarter earnings, major retailers attributed profit losses to theft, but the report questions the accuracy of these claims.<\/p>\n","protected":false},"author":1,"featured_media":1996690,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[],"class_list":["post-1996689","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1996689","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1996689"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1996689\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1996690"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1996689"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1996689"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1996689"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}