Theft Rising at U.S. Wal-Mart Stores

[guruoo]

Theft Rising at U.S. Wal-Mart Stores

By ANNE D'INNOCENZIO and MARCUS KABEL

NEW YORK (AP) -- Shoppers at Wal-Mart stores across America are loading carts with
merchandise - maybe a flat-screen TV, a few DVDs and a six-pack of beer - and strolling
out without paying. Employees also are helping themselves to goods they haven't paid for.

The world's largest retailer is saying little about these kinds of thefts, but its recent
public disclosures that it is experiencing an increase in so-called shrinkage at its U.S.
stores suggests that inventory losses due to shoplifting, employee theft, paperwork errors
and supplier fraud could be worsening.

The hit is likely to rise to more than $3 billion this year for Wal-Mart Stores Inc., which
generated sales of $348.6 billion last year, according to retail consultant Burt Flickinger III.

Flickinger and other analysts say the increase in theft may be tied to Wal-Mart's highly
publicized decision last year to no longer prosecute minor cases of shoplifting in order
to focus on organized shoplifting rings. Former employees also say staffing levels, including
security personnel, have been reduced, making it easier for theft to occur. And a union-backed
group critical of the retailer's personnel policies contends general worker discontent is playing a role.

.....

http://hosted.ap.org/dynamic/stories/W/WAL_MART_THEFT?SITE=TNCLA&SECTION=HOME&TEMPLATE=DEFAULT