US retailers voice alarm at rising theft, flash rob’ attacks

Toothpaste, chocolate, washing powder and deodorant-everyday products are increasingly under lock and key at US retailers, as petty theft and organized shoplifting rise while consumers grapple with costs of living.

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Major retailers Walmart and Target, drugstore chains CVS and Walgreens, as well as home improvement firm Home Depot and footwear seller Foot Locker are among those to have voiced concern over more thefts including violent incidents in their latest earnings results.

"Organized retail crime, and theft in general, is an increasingly serious issue impacting many retailers," said Lauren Hobart, chief executive at Dick's Sporting Goods during a conference call.

The impact of stealing on the company's inventory was "meaningful" on both its second quarter results and expectations for the balance of the year, she added.

Dick's now expects earnings per share for the year at $11.33 to $12.13, down from earlier guidance of $12.90 to $13.80.

"During the first five months of this year, our stores saw a 120% increase in theft incidents involving violence or threats of violence," said Target chief executive Brian Cornell in a separate briefing.