Record retail theft puts pressure on Australian supermarket giants

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Retail theft has hit record levels in Australia, government statistics show, putting pressure on grocery giants Woolworths and Coles that are already struggling with soaring supply costs and freight blockages

Store theft rose 23.7% in New South Wales, the home state of a third of Australians, from 2021 to 2022, state government figures showed on Thursday, the fastest year-on-year increase since records began in 1995.

Queensland, Australia's third-largest state, had the highest monthly rate of shop stealing on record this January, according to publicly available police data. Neither state's data specified which retailers reported theft. The data underscores concerns raised by analysts and social researchers that surging living costs - from grocery shelf prices to power bills to mortgages - will drive up crime. That may impact profit at Woolworths and Coles, which together ring up two-thirds of Australian grocery sales and noted rising store theft in trading updates last month.

 

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Australia was once a penal colony as i recall, i guess it runs in the family :))

The thieves are the supermarkets constantly jacking up their prices while announcing record profits.

Bullshit. This is just so they can put cameras at checkouts.

It's the Democrat's fault, specifically Biden....oh wait, Australia? Never mind.

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