FINANCE

Holiday shrink to cost retailers $8.9 billion; alcohol tops list of most stolen goods

BY Marianne Wilson

Thorofare, N.J. — Retailers in the United States are expected to lose $8.9 billion over the holiday season as a result of shoplifting, dishonest employees and vendor or distribution losses, according to a new study released by the Centre for Retail Research. In total, the losses could represent a 4% increase over the same period last year.

The report, funded by an independent grant from Checkpoint Systems, found that American retailers could lose $3.8 billion through shoplifting, $4.7 billion through employee theft, and $400 million through vendor and distribution losses.

“The Christmas season is an especially attractive time for criminals,” said Professor Joshua Bamfield, director of the Centre for Retail Research and author of the report. “Thieves take advantage of busy stores to steal high-value, high-demand goods. As a result, retailers face a big threat from professional and semi-professional thieves, many of whom steal goods with the intention of re-selling them.”

The “Shoplifting for Christmas 2012”’ report also revealed the product categories most likely to be stolen over the Christmas period. They are:

  1. Alcohol products;
  2. Women’s clothing and fashion accessories;
  3. Toys;
  4. Perfume and health &beauty gift packs;
  5. Electronic devices such as smartphones and tablet computers, toiletries for men;
  6. DVD gift sets and game consoles;
  7. Food and Christmas decorations;
  8. Electrical goods including hardware/DIY;
  9. Watches and jewelry; and
  10. Chocolates and confectionery.
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News

Lowe’s strengthens appliance position

BY CSA STAFF

MOORESVILLE, N.C. – Lowe’s will be adding the LG electronics brand to an already powerful portfolio of appliance brands that includes Frigidaire, Whirlpool, Samsung, KitchenAid, Maytag, Electroluc, GE and Bosch.

LG-brand refrigerators, washers, dryers, dishwashers and ranges are among the appliances that Lowe’s will offer online and in more than 1,700 of its locations across the United States beginning in 2013. The new line will include the industry’s largest total capacity refrigerator at 33 cubic feet and a host of products awarded the Energy Star "Most Efficient" designation.

“Through this strategic alliance with LG, our stores will now have a broader assortment of innovation and leading designs in appliances to help customers improve and maintain their homes,” said Craig Webber, Lowe’s merchandising VP. “When combined with our service advantages of next-day delivery capabilities and in-house facilitation of repairs and maintenance, Lowe’s appliance offering provides the best in customer experience and simplicity.”

“As a retailer that recognizes the value of innovation and shares a commitment to energy-efficient product offerings, Lowe’s is a perfect fit for LG home appliances,” said Chris Jung, president, home appliances, LG Electronics USA. Through our new alliance with Lowe’s, even more consumers looking for innovative and attractive appliances will be able to find LG for their homes.”

LG appliance innovations include direct-drive motors on its washing machines and linear compressors on its refrigerators to improve reliability, performance and efficiency. LG is a top brand in front-load washers in the United States and an award-winning leading innovator in French door refrigerators.

Its announcement to add a new brand to its existing portfolio comes two weeks after Lowe’s reported third-quarter results showing an improvement in the quarter’s profits, which were up 76%. Lowe’s president and CEO Robert Niblock called the results solid and said the company is focused on improving execution, delivering value and increasing product differentiation.

While Lowe’s reported strong profit growth, its sales results lacked the momentum evident at Home Depot, whose sales increased from 4.6% to $18.1 billion and same store sales increased 4.2% overall. Home Depot, too, expanded its major appliance brands by adding Whirlpool, Electrolux and Frigidaire in a limited number of stores and online.

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REAL ESTATE

DJM Capital Partners to develop retail/hotel project

BY Staff Writer

Huntington Beach, Calif. — DJM Capital Partners announced that it has acquired about 11 acres from Crescent Heights for the retail and hotel portion of a planned mixed-use development Pacific City.

The company said it plans to develop on the original footprint and with almost 6.5 acres for 191,000 sq. ft. of open-air retail, restaurants and entertainment and four acres for an eight-story hotel.

“We have a rare opportunity to create an exceptional oceanfront destination in one the world’s most recognized beach cities – ‘Surf City USA,’” said Lindsay Parton, president, DJM Development Partners, an affiliate of DJM Capital Partners. “Our vision is to bring quality retail and dining that appeal to residents and visitors and do it in a way that reflects the essence of the area.”

The company already owns Bella Terra, an 800,000-sq.-ft. retail center set on 44 acres with more than 70 shops and restaurants.

DJM’s Pacific City property will feature retail and restaurants in multiple two-story buildings set around a central pedestrian street dotted with plazas and open areas along Pacific Coast Highway.

It will feature sustainable design in the building materials and landscaping and use a natural color palette that reflects and complements the beach environment.

DJM has engaged the Jerde Partnership as design architect, Lifescapes International as the landscape architect and SMS as the executive architect.

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A.Marius says:
Feb-28-2013 02:12 pm

An eight story hotel in the
An eight story hotel in the area would be fantastic, creating an oceanfront destination will make people that plan vacation to choose staying at the DJM Capital Partners newly built hotel. Having Lifescapes International as the landscape architect is a good decision, their team is one of the best.

A.Marius says:
Feb-28-2013 02:12 pm

An eight story hotel in the area would be fantastic, creating an oceanfront destination will make people that plan vacation to choose staying at the DJM Capital Partners newly built hotel. Having Lifescapes International as the landscape architect is a good decision, their team is one of the best.

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