At least 20 people were arrested after stores in Philadelphia were vandalized and robbed on Tuesday night, adding to concern about a wave of retail thefts across the US.
(Bloomberg) — At least 20 people were arrested after stores in Philadelphia were vandalized and robbed on Tuesday night, adding to concern about a wave of retail thefts across the US.
Apple, Lululemon and Foot Locker stores were hit, with the incidents caught on cameras and shared widely on social media. Acting Police Commissioner John Stanford told NBC 10 Philadelphia that it was caused by a “bunch of criminal opportunists.”
Target Corp. said this week it’s closing nine stores in four states to curb losses from rising retail theft, while the National Retail Federation said US retailers are being forced to shutter stores, reduce hours and alter product selections because of increases in crime.
Read More: Target Shutters Nine West Coast, NYC Stores on Rising Theft
Total losses from so-called shrink — a term used by retailers to reflect factors including theft, damage and vendor error — inched up to 1.6% of sales last year, the NRF said, versus 1.4% in 2021. Last year’s rate was in line with the numbers from 2019 and 2020.
Read More: Thieves Swarm Luxury Malls, Driving Retail Crime to $100 Billion
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