US retail group retracts claim that half of $94.5bn inventory loss was from theft

National Retail Federation says 2021 data was flawed and based on congressional testimony from president of an advocacy group

The powerful National Retail Federation (NRF) lobbying group has retracted a claim that organized retail crime" accounted for nearly half" of the shopping industry's $94.5bn losses due to theft or shrink" in 2021.

The industry group had said the impact of organized retail crime, which it previously claimed had increased by 26.5%, had become increasingly violent. Retail giants like Target, Walmart and Walgreens said it was threatening their businesses.