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

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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.

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DCPatriot:

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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


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This is total BS!

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

jmyrlefuller:

--- Quote from: DCPatriot on November 16, 2014, 01:19:40 pm ---This is total BS!

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

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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:

--- Quote from: DCPatriot on November 16, 2014, 01:19:40 pm ---This is total BS!

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

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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:

--- Quote from: Oceander on November 16, 2014, 11:53:28 pm ---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.

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Okay, thanks...got it.  LOL!

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