Loss prevention firm releases results of annual retail theft survey

Retailers set a new record in 2007, as they apprehended more than 700,000 shoplifters and dishonest employees, according to the results of the 20th Annual Retail Theft Survey conducted by loss prevention consulting firm Jack L. Hayes International.

The firm recently announced the results of the survey, which also found that criminals stole over $6.7 billion worth of merchandise from only 24 retailers in 2007.

In a prepared statement, Jack L. Hayes International President Mark R. Doyle said that the apprehensions of both shoplifters and dishonest employees were up by 9.16 percent and 17.57 percent respectively.

Retailers were also able to recover more than $150 million from caught thieves, according to the survey.