The Sears going-out-of-business sales weren't good enough?
A video of several shoplifters running out of a Sears SHLDQ, -4.65% store carrying armloads of garments has gone viral on Twitter TWTR, +2.38%. The 18-second clip posted Tuesday night shows what appears to be four or five people running out of a Sears store at the Hilltop Mall in Richmond, Calif., bearing piles of what look to be mostly shirts still on their hangers.
— Jaime De Los Santos December 11, 2019 I guess that Kardashian Collection is still flying off the selves at #sears pic.twitter.com/nbKIi1Ymc7 It’s not so funny for the retailers, however, who lost $50.6 billion from shrinkage last year, according to the latest National Retail Security Survey from the National Retail Federation. And more than two-thirds of retailers have seen an increase organized retail crime — or thefts by two or more people working together, as appeared to be the case in the viral Sears heist — according to a National Retail Federation survey released on Wednesday.
But as the NASP notes in its tagline, shoplifting steals from everyone. That’s because retailers often raise prices on their products to cover losses from theft. Plus, these missing sales cut into local and state sales tax revenue, which can lead to raising taxes. And communities lose jobs when businesses close over continual losses.
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