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NRF Retracts Claim that Organized Retail Crime Accounted for ‘Nearly Half’ of Retail Shrink

Retail TouchPoints

The National Retail Federation (NRF) has updated a report that had attributed “nearly half” of 2021’s $94.5 billion in retail shrink to organized retail crime, saying the data point was part of two-year-old testimony to a U.S. Senate committee by Ben Dugan, former President of the Organized Retail Crime Resource Center.

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Citing Theft and Safety Issues, Target Closes 9 Stores in 4 States

Retail TouchPoints

Theft, both internal and external, accounts for 65% of shrink, although it can reach as high as 70% in certain verticals. reduced specific storesoperating hours; 29.7% reduced or altered in-store product selection; and 28.1% closed specific store locations. billion in losses, up from $93.9 billion in 2021.

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Torrid Continues Building Out Executive Team With New COO/CFO and CTO Hires

Retail TouchPoints

Martin brings 25 years of retail experience, most recently as EVP and CFO of Guitar Center , where he was responsible for accounting and finance, real estate, sourcing, distribution and logistics. He also spent time with Lands’ End , Gap , Disney , Coldwater Creek and Amgen.

Finance 231
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Amazon Launches Anti-Counterfeiting Exchange to Enlist Other Retailers in Fighting Fakes

Retail TouchPoints

However, Amazon did say that through the pilot of ACX, it already has detected hundreds of matching accounts, where the same counterfeiter tried to create selling accounts on Amazon and at least one other store operator. “We

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American Eagle Names Replacements for Departing COO

Retail TouchPoints

In the new role of EVP of Brand Operations at AEO, van Ogtrop will drive greater brand collaboration while fueling growth and profitability across American Eagle and Aerie. She will have full accountability for AEO store operations across the U.S. and Canada, as well as brand finance and strategy and merchandise planning.

Finance 262
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[Whitepaper]: Display and Merchandising Compliance: Ensure Accountability and Actionability

Wiser

Scorecards are ideal for brands and retailers to measure their in-store partners in areas of merchandising compliance and store operations. To explore why we’ve created a new whitepaper titled Display and Merchandising Compliance: Ensure Accountability and Actionability. How to measure in-store compliance. .”

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URBN to Deploy Common Payments Infrastructure Across Brands

Retail TouchPoints

The retailer will deploy the Stripe Terminal at more than 600 stores, and Stripe will simplify online checkout by allowing shoppers to seamlessly pay for items with funds from their bank accounts using Link and Stripe Financial Connections.