NRF survey: Retailers report rising losses from organized theft

Organized retail crime is continuing to grow, with the number of dollars lost topping a key threshold for the fifth year in a row and three-quarters of retail companies that have been victims saying activity is up.

That’s according to the 16th annual Organized Retail Crime study by the National Retail Federation.

“Retailers are seeing more cases and higher losses as organized crime continues to target stores, warehouses and cargo,” NRF Vice President for Research Development and Industry Analysis Mark Mathews said. “Retailers are investing millions to fight these crimes, but they need more help from law enforcement and, most of all, they need tougher laws that recognize the difference between petty shoplifting and professional crime for profit.”

The survey found 75% of loss-prevention executives at a cross-section of large and mid-sized retail companies said ORC activity had increased in the past year, up from 68% last year. Losses averaged $719,548 per $1 billion in sales, a 2% increase from last year and the fifth year in a row that the figure topped the $700,000 mark.

Current losses compare with only $453,940 in 2015, and the increase of nearly 60% comes as many states have raised the threshold of what

Glen Raven purchases production facility in France

BURLINGTON, N.C. – Glen Raven Custom Fabrics has purchased a new production facility in Valenciennes, France, an industrial hub city with easy access to transportation routes across Europe.

“Glen Raven is a 140-year-old company, and we remain steadfast in our commitment to serving our customers and investing in our collective business not just for today, but for the many years ahead,” said Dave Swers, president of Glen Raven Custom Fabrics.

“While the path forward is not linear,” he continued, “we recognized the need to pull forward some of our expansion plans so that we can provide the level of service our customers deserve and continue to satisfy end users’ desires for Sunbrella fabrics. We are committed to meeting the needs of our customers through creative sourcing, extended run schedules, enhanced systems and capacity expansions.”

Once converted to meet Glen Raven’s requirements, the facility in France is expected to be operational by the second half of next year. The site also allows for future production and distribution expansion.

The initial investment phase, started at the end of last year, included new and upgraded equipment to support the continuing growth of Sunbrella fabrics and other Glen Raven textile products in the company’s