Loblaw said it is continuing to work with law enforcement to reduce the impact of thefts from its stores across Canada.
During the company’s third-quarter earnings call, Loblaw CEO Richard Dufresne noted that “the surge of organized retail crime remains a significant problem in the retail industry.”
“These are sophisticated organizations that are increasingly using violent tactics and complex networks to steal and sell stolen goods for profits.”
Dufresne said that the company will continue to invest in its stores and work with police to reduce acts of organized crime that are currently impacting its stores.
His comments come after a series of measures Loblaw took this past summer to try and combat thefts by implementing receipt checks, security gates at grocery stores, and introducing locked cabinets for the most stolen items in Shoppers Drug Mart stores.
In a statement to Daily Hive, Loblaw Public Relations said that the “organized retail crime” it is experiencing includes “large amounts of cosmetics, fragrances, and baby formula, even carts full of thousands of dollars of products being pushed right out the front door.”
Loblaw added that these products are re-sold via online marketplaces.
The company spokesperson said that while it has implemented specific security measures, it is still working to “find the right balance” in maintaining a welcoming and convenient experience for its customers.
On Wednesday, Loblaw reported $18.27 billion in revenue and $621 million in profit, which marks growth of 5% and just shy of 12%, respectively, from the same period last year.
Follow Channels and Categories