Myer has engaged undercover police in Melbourne to help stem growing theft at its department stores, including from groups associated with organised crime, as retailers report rising rates of shoplifting amid increasing economic pressures.
The retailer called out at its latest half-year results that loss prevention rose to 1.7 per cent of wholesale sales – a five-year high – and it would have to beef up its spending on this area.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
