
Tuesday, October 09, 2023
I’ve become highly aware of retail theft, a massive problem that worsened with the Pandemic and continues. It’s a serious topic among Home Depot managers where I work. Theft awareness always is visible in the many for-sale items that are caged and locked. Current newspapers name key businesses that have moved or are moving from downtown locations, to combat high theft. Major retailers listed on the stock market report significant income losses from theft. Many brick-and-mortar sellers are fighting back by beefing up their online businesses.
I am at least somewhat informed, nonetheless, my jaw dropped recently when newspapers reported that last year’s retail losses from theft totaled 112 trillion dollars. Last week, the Wall Street Journal published a front-page story explaining how, over time, Home Depot helped authorities bring down a major theft-and-resell ring. The thieves and their disposal of gains had been active for ten years.
That ring leader ran a church charity organization, and on the side paid thousands of dollars to groups of thieves. They worked for him throughout the U.S. providing stolen goods. He in turn sold the stolen articles on eBay. EBay suspected him of selling stolen merchandise but couldn’t move on an assumption. Home Depot’s 2200+ locations have cameras; they made a difference by gathering enough information to launch and assist a police investigation. The story is a fascinating read.
I can’t provide a link because the Journal will require readers to subscribe. However, the story is available in many forms for searching online.
Dear Friends: How many rings are needed for thefts amounting to $112T? Diana










