Rite Aid says shoplifting has gotten so bad in New York City that the company is considering putting everything into locked displays.
The company recently reported $5 million in additional losses in the past 3 months due to what is referred to as "shrink" in the retail industry. That's another word for stolen items. The company says that there is no insurance on shrink and it is a hit on the company's gross margin.
"We're looking at literally putting everything behind showcases to ensure the products there for customers who want to buy it," Persaud said. He added that the company has had to go to the extent of using off-duty police officers in some stores. Prior reporting by FOX 5 News has shown private security guards watching as shoplifter leave stores with armloads of goods.
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