Article Printed from Vancouver Province - September 19 2009

Retailers hit for $3B

Montreal - Shrinkage or inventory losses cost Canadian retailers $3 billion in lost revenue last year, or $8.5 million per shopping day, despite modern prevention tools, says a survey by PricewaterhouseCoopers and the Retail Council of Canada.

Employee theft is the largest factor (35 per cent), with shoplifting nest (32 per cent), much of which is linked with organized crime.