https://issuesinsights.com/2023/09/01/bidens-border-crisis-fuels-massive-spike-in-retail-crime/
As retailers reported their quarterly earnings this month, a phrase that kept cropping up is one you probably never heard before – “organized retail crime.” It has spiked enough that it’s eating into profits.
Turns out that, by throwing open the southern border, President Joe Biden has created a booming business for Mexican cartels ripping off U.S. retailers – although you’d never know it based on the media blackout of this trend.
Target, Dollar Tree, Foot Locker, Dick’s Sporting Goods, Nordstrom, and others recently disclosed that organized retail crime – or ORC for short – is hitting their bottom lines.
Dick’s Chief Financial Officer Navdeep Gupta said that the sports retailer lowered its profit outlook for the year in part because “the number of incidents and the organized retail crime impact came in significantly higher than we anticipated.”
Dollar Tree said it is keeping more of its items in locked cases or removing them altogether as organized theft climbs
Just last week, 50 criminals swarmed a Los Angeles mall and made off with $300,000 worth of stolen goods. A news report suggests that they were following orders from organized crime or gang members.
“There’s no doubt that there’s a lot of … criminal organizations behind this. Some of it involves gang members; some of it involves people that are what you would identify as professional retail thieves,” Deputy Los Angeles Police Chief Alan Hamilton told NBC News on Sunday. “It runs the gamut, and there is a black market for purchasing these items, unfortunately. … The same people [are] then turning around and committing these acts again, over and over again.”
The National Retail Federation says ORC cost retailers close to $100 billion in 2021 – a significant increase from the year before – and that money eventually comes out of consumers’ pockets.