In a step up for the WFDS I was reading the New York Times today. Ah, the stuff one finds on the bus. Anyhow, there was a piece in the paper by Steven Greenhouse that says that the new wave in department store theft is from the inside, specifically false merchandise returns and siphoning cash onto gift cards.
At the Saks flagship store in the Big Apple a 23 year old clerk was recently caught ringing up 130 large, that is 130 000 . 00, in fake returns and flipping the coin onto a gift card. For herself.
1.51 per cent of total retail sales walk out the store one way or another and the 2008 National Retail Security Survey says about half of the theft is by employees. And when employees steal they really steal: the average shoplifter lifts 438 shekels worth of swag per episode; the average klepto employee 1890 dollars worth of schtuff.
Another growing field in the world of department store larceny is the gift card switcheroo. You buy a gift card for 50 dollars to mail to your friend out west and the clerk swaps the 50 dollar card for a blank one.
Beauty, eh?
WFDS
Just wanted to say, I enjoy your posts, Dan. All the best for you in 2010.
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