H&M’s chief executive officer Helena Helmersson said on Wednesday shoplifting has been a particular problem in the US, and the world’s No. 2 fashion retailer is looking at taking steps such as increasing security in its stores.
Target said on Tuesday it would close nine stores across four US states, including California, citing that theft and organised retail crime was threatening the security of the retailer’s employees and customers.
Organised crime rings in New York, San Francisco, Los Angeles and Houston are targeting retail inventories, causing more financial loss, according to a report by the National Retail Federation (NRF), a trade group representing US retailers.
Cainiao Smart Logistics Network Ltd., the logistics arm of Alibaba Group Holding Ltd., has filed for its Hong Kong initial public offering, potentially making it among the first of the Chinese e-commerce leader’s units to go public.