www.marketwatch.com Open in urlscan Pro
143.204.98.61  Public Scan

Form analysis
0 forms found in the DOM

Text Content

Skip to main content

Advertisement

 * Home
 * Latest News
 * Watchlist
 * Market Data Center
    * U.S.
    * Cryptocurrency
    * Europe
    * Rates
    * Asia
    * Futures
    * Currencies

 * Markets
    * U.S. Markets
    * Canada
    * Europe & Middle East
    * Asia
    * Emerging Markets
    * Latin America
    * Market Data

 * Investing
    * Barron's
    * Best New Ideas
    * Stocks
    * IPOs
    * Mutual Funds
    * ETFs
    * Options
    * Bonds
    * Commodities
    * Currencies
    * Cryptocurrencies
    * Futures
    * Financial Adviser Center
    * Cannabis
    * Newswires

 * Barron's
 * Economy & Politics
    * Washington Watch
    * Inflation
    * Coronavirus
    * The Federal Reserve
    * Economic Report
    * Rex Nutting
    * U.S. Economic Calendar
    * Coronavirus Recovery Tracker

 * Personal Finance
    * The Moneyist
    * Spending & Saving
    * Retirement
    * TaxWatch
    * Credit Cards
    * Careers
    * Travel
    * Real Estate
    * Real Estate Listings

 * Retirement
    * Best New Ideas in Retirement
    * Estate Planning
    * Help Me Retire
    * FIRE
    * Taxes
    * Social Security
    * Real Estate
    * Retirement Calculator
    * NewRetirement Planner
    * Where Should I Retire
    * Best Places

 * How to Invest
 * Virtual Stock Exchange
 * Video
    * SectorWatch
    * The Moneyist
    * Getting to Work With
    * Love & Money
    * Explainomics
    * Good Company

 * Podcasts
 * Live Events
 * Picks
    * Food & Wine
    * Home & Kitchen
    * Health & Fitness
    * Fashion & Beauty
    * Loans & Mortgages
    * Money
    * Travel
    * Gifts
    * Technology
    * Real Estate
    * Amazon Prime Day
    * Black Friday
    * Guides

 * Opinion
 * Investor's Business Daily
    * Leaderboard
    * SwingTrader
    * MarketSmith
    * IBDLive

 * Newsletter Center
 * Research & Tools
    * Watchlist
    * Mortgage Calculator
    * Multiple Quotes Tool
    * Stock Screener
    * Earnings Calendar
    * Market Screener
    * IPO Calendar
    * Short Interest
    * Premarket Screener
    * Options Calendar
    * After Hours Screener
    * Currency Tools
    * Mutual Fund Screener
    * Upgrades & Downgrades
    * Mutual Fund Comparison
    * Economic Calendar
    * Where Should I Retire?
    * Savings Accounts
    * Retirement Planner
    * CDs
    * Mortgage Rates

Sign Up Log In
 * Profile Settings
 * Watchlist
 * Email & Alerts
 * Games


MARKETWATCH SITE LOGO A LINK THAT BRINGS YOU BACK TO THE HOMEPAGE.

 * Latest
 * Watchlist
 * Markets
 * Investing
 * Personal Finance
 * Economy
 * Retirement
 * How to Invest
 * Video Center
 * Live Events
 * MarketWatch Picks
 * More
   Latest Watchlist Markets Investing Personal Finance Economy Retirement How to
   Invest Video Center Live Events MarketWatch Picks


 * Account Settings
 * Log In
 * Sign Up


U.S. STOCK-INDEX FUTURES POINT TOWARD CONTINUED GAINS ON THURSDAY


ASIAN STOCKS UPBEAT AFTER WALL STREET SURGE FOLLOWING FED ANNOUNCEMENT





Advertisement



Advertisement
 1. Home
 2. Industries
 3. Retail/Wholesale
 4. The Margin


THE MARGIN


CEOS FROM TARGET, CVS AND WALGREENS ASK CONGRESS FOR HELP AMID RETAIL CRIME
SURGE

Last Updated: Dec. 11, 2021 at 10:59 a.m. ET First Published: Dec. 10, 2021 at
12:47 p.m. ET
By

WESTON BLASI

  comments


20 RETAIL LEADERS WROTE A LETTER ASKING FOR LEGISLATION TO HELP LIMIT CRIME IN
THEIR STORES

RETAIL LEADERS ARE ASKING LAWMAKERS FOR HELP IN FIGHTING ORGANIZED CRIME RINGS
OF SHOPLIFTERS.

Getty Images/iStockphoto
 * Email icon
 * Facebook icon
 * Twitter icon
 * Linkedin icon
 * Flipboard icon

 * Print icon
 * Resize icon


REFERENCED SYMBOLS


Advertisement
TGT
+0.58%
CVS
+1.79%
WBA
+0.69%
MC
+1.47%
BURBY
+0.04%
M
-2.99%
AMZN
+2.50%
DKS
-0.03%
FL
+0.05%
KR
+1.40%
JWN
+0.94%
RAD
+1.31%
VFC
+0.31%
AZO
+2.45%
DG
+0.30%
HD
+1.39%
LEVI
+0.04%
WOOF
-1.98%
ULTA
+1.27%
BBY
+1.10%

Your browser does not support the audio tag.
Listen to article
Length 5 minutes
AD
Loading advertisement...
00:00 / 04:38
1x

This feature is powered by text-to-speech technology. Want to see it on more
articles?
Give your feedback below or email audiofeedback@marketwatch.com.
thumb-stroke-mediumthumb-stroke-medium

The CEOs from 20 major retail brands, including Target TGT, +0.58%, CVS CVS,
+1.79% and Walgreens WBA, +0.69%, have jointly penned a letter to Congress over
concerns of increasing crime in their stores.

“As millions of Americans have undoubtedly seen on the news in recent weeks and
months, retail establishments of all kinds have seen a significant uptick in
organized crime in communities across the nation,” the letter reads.

“While we constantly invest in people, policies, and innovative technology to
deter theft, criminals are capitalizing on the anonymity of the Internet and the
failure of certain marketplaces to verify their sellers,” it continues. “This
trend has made retail businesses a target for increasing theft, hurt legitimate
businesses who are forced to compete against unscrupulous sellers, and has
greatly increased consumer exposure to unsafe and dangerous counterfeit
products.”


Advertisement

Related: CVS is battling a $45 billion crime spree

The goal for the letter, which was addressed to the majority and minority
leaders in both the House and the Senate, is to consider passing the Integrity,
Notification and Fairness in Online Retail Marketplaces (INFORM) Consumers Act.
The act aims to increase transparency for online retail marketplaces, slow the
sale of counterfeit goods online, and increase verification protocols for
buyers.

“Leading retailers are concerned about the growing impact organized retail crime
is having on the communities we proudly serve, which is why we strongly support
the bipartisan and bicameral Integrity, Notification and Fairness in Online
Retail Marketplaces (INFORM) for Consumers Act,” the letter continues. “This
important legislation will modernize our consumer protection laws to safeguard
families and communities from the sale of illicit products and we urge its quick
passage.”



Versions of this act have already been introduced several times over the past
few years by members of both chambers of Congress.

It appears the INFORM Consumers Act has at least some some bipartisan support,
as the bill was co-introduced by U.S. Senators from both parties when Dick
Durbin (D-IL) and Bill Cassidy (R-LA) introduced it in March 2021.

See also: Kellogg to permanently replace 1,400 striking factory workers

And 69.4% of retailers say they have experienced a rise in retail-related crimes
over the past year, according to data from the 2021 Retail Security Survey. The
surveyed companies cited issues surrounding COVID-19, policing, changes to
sentencing and the huge growth of online marketplaces.



Last month, groups of thieves ransacked high-end stores such as Louis Vuitton
MC, +1.47%, Burberry BURBY, +0.04% and Bloomingdale’s M, -2.99% in San
Francisco. In June, video of a Walgreens shoplifter filling a garbage bag with
stolen merchandise and then pedaling a bike out of the store went
viral. Retailers are spending millions a year to battle organized crime rings
that steal from their stores in bulk and then peddle the goods online, often on
Amazon AMZN, +2.50%.

See also: Hottest U.S. inflation rate in almost 40 years brings sigh of relief
in some corners of financial markets


Advertisement

Here’s a list of the CEOs who wrote the letter to Congress, and the companies
that they represent:

Ken Hicks, Academy Sports + Outdoors

Lauren Hobart, DICK’S Sporting Goods Inc. DKS, -0.03%

Richard Johnson, Foot Locker Inc. FL, +0.05%

Rodney McMullen, The Kroger Co. KR, +1.40%

Richard Keyes, Meijer Inc.

Erik Nordstrom, Nordstrom Inc. JWN, +0.94%

Heyward Donigan, Rite Aid Corporation RAD, +1.31%

Brian C. Cornell, Target Corporation

Steve Rendle, VF Corporation VFC, +0.31%

William Rhodes, AutoZone, Inc. AZO, +2.45%


Advertisement

Neela Montgomery, CVS Health

Todd J. Vasos, Dollar General Corporation DG, +0.30%

Craig Menear, The Home Depot Inc. HD, +1.39%

Chip Bergh, Levi Strauss & Co. LEVI, +0.04%

Geoffroy van Raemdonck, Neiman Marcus, Inc.

Ron Coughlin, Petco Animal Supplies Inc. WOOF, -1.98%

Anthony T. Hucker, Southeastern Grocers

David Kimbell, Ulta Beauty Inc. ULTA, +1.27%

John Standley, Walgreens Boots Alliance Inc.

Corie Barry, Best Buy Co. Inc. BBY, +1.10%

Brian Dodge, Retail Industry Leaders Association

John Standley, Walgreens Boots Alliance, Inc.

Brian Dodge, Retail Industry Leaders Association


READ NEXT


READ NEXT


OREO IS LAUNCHING TWO FLAVORS IN JANUARY 2022

Oreo has two new flavors coming in January, and announced a limited-time pairing
with the Barefoot winemakers last week.


MORE ON MARKETWATCH

 * Apple’s augmented-reality ambitions could be a ‘game changer,’ Bank of
   America says in upgrade
 * Barron's: Polestar’s New EV Has More Range Than a Tesla Model Y. What to Know
   About the Numbers.
 * Barron's: EVs Are Taking Over. The Invasion Arrives in the U.S. in 2022.
 * Elon Musk insults Elizabeth Warren in clash over taxes


ABOUT THE AUTHOR

Weston Blasi


Weston Blasi is a reporter. You can follow him on Twitter @WestonBlasi.


Advertisement
Community Guidelines • FAQs

Advertisement

Advertisement

PARTNER CENTER


Advertisement

Advertisement

Advertisement

Advertisement

Advertisement

Advertisement

MOST POPULAR


Advertisement

RAY DALIO WARNS THE FED’S HANDS ARE TIED AND THAT HIGHER U.S. INFLATION IS
STICKING AROUND. DEMOCRACY, MAYBE NOT.

FED’S POWELL SAYS HE DOESN’T SEE CRYPTOCURRENCIES AS ‘FINANCIAL STABILITY
CONCERN’

WHAT THE FED DECISION MEANS FOR YOUR WALLET, YOUR CREDIT-CARD BILL — AND HOW FAR
WILL MORTGAGE RATES GO?

WHAT THE ELECTRIC-VEHICLE BOOM MEANS FOR CHARGING-STATION BUSINESS

DOW SURGES 380 POINTS AND S&P 500 LOGS 2ND-HIGHEST CLOSE OF 2021 AS FED SIGNALS
AGGRESSIVE TAPERING AND PROJECTS 3 RATE HIKES IN 2022


Advertisement




PARTNER CONTENT




PARTNER CONTENT



Back to Top
MarketWatch logoGo to the homepage
Copyright © 2021 MarketWatch, Inc. All rights reserved.
By using this site you agree to the Subscriber Agreement & Terms of Use, 
Privacy Notice, and Cookie Notice.
 * Facebook
 * Twitter
 * Linkedin
 * 

 * MARKETWATCH

 * Customer Center
 * Contact Us
 * Newsroom Roster
 * Virtual Stock Exchange
 * BigCharts
 * Copyright Policy
 * Manage Notifications

 * COMPANY

 * Dow Jones
 * Code of Conduct
 * Corrections
 * Reprints & Licensing
 * Your Ad Choices
 * Corporate Subscriptions

 * DOW JONES NETWORK

 * The Wall Street Journal
 * Barron's
 * Financial News London
 * realtor.com
 * Mansion Global

Intraday Data provided by FACTSET and subject to terms of use. Historical and
current end-of-day data provided by FACTSET. All quotes are in local exchange
time. Real-time last sale data for U.S. stock quotes reflect trades reported
through Nasdaq only. Intraday data delayed at least 15 minutes or per exchange
requirements.



Advanced Search Submit entry for keyword results

Advertisement



LISTINGS




COLUMNS




AUTHORS




TOPICS





PRIVATE

No results found