America's Workers Are Out-Stealing America’s Shoplifters

[jmyrlefuller]

http://www.theatlantic.com/business/archive/2014/11/how-retail-workers-are-out-stealing-americas-shoplifters/382703/

by Joe Pinsker
November 13, 2014

The Global Retail Barometer, an annual report released late last week, revealed that American retail staff steal a lot more from their employers than actual, dedicated thieves: Employees account for 43 percent of revenues that were lost but shouldn't have been, while shoplifters account for 37 percent. Usually, this takes the form of unsupervised sleight-of-hand at the register—benefiting from purposely canceling transactions that shouldn’t be canceled or issuing unwarranted refunds—and it accounted for about $18 billion in lost retail revenue last year in the U.S.

(excerpt)

[DCPatriot]

Employees account for 43 percent of revenues that were lost but shouldn't have been, while shoplifters account for 37 percent. Usually, this takes the form of unsupervised sleight-of-hand at the register

This is total BS!

Come on....does that translate that 80% of retailers' profits are being lost? 

[jmyrlefuller]

This is total BS!

Come on....does that translate that 80% of retailers' profits are being lost?

No, that means that of the 100% of profits that are being lost to theft and misplacement, 43% is due to cashiers with sticky fingers and 37% is due to shoplifting. The other 20% comes from vendors overcharging/underdelivering and "administrative/non-crime losses," whatever that means.


http://www.marketwatch.com/story/us-workers-are-big-time-thieves-far-worse-than-in-other-countries-2014-11-06

[Oceander]

This is total BS!

Come on....does that translate that 80% of retailers' profits are being lost? 

No.  That means that of the total revenues that were lost in some fashion - i.e., some percentage of what total revenue would have been without various losses - 80% of that lost revenue is the result of theft.

Now I have no idea how they worked out what revenues were lost but should not have been, but assuming arguendo that can be determined, then that is what they mean.

[DCPatriot]

No.  That means that of the total revenues that were lost in some fashion - i.e., some percentage of what total revenue would have been without various losses - 80% of that lost revenue is the result of theft.

Now I have no idea how they worked out what revenues were lost but should not have been, but assuming arguendo that can be determined, then that is what they mean.

Okay, thanks...got it.  LOL!