Dutch supermarket chain Jumbo has said that shoplifting exceeded its annual profits last year, highlighting how the cost of living crisis has driven up crime and is hurting businesses.
The group said on Wednesday that theft cost it more than €100mn in 2023, against expected annual post-tax profit of about €80mn.
Retailers worldwide have reported an increase in shoplifting as soaring inflation raised prices faster than wages. Chains including Primark, the clothing retailer, John Lewis, the UK department store, and Target of the US have complained of a growing problem.
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