Time for some steaks!

Theft Rising at U.S. Wal-Mart Stores
Wednesday June 13, 6:40 pm ET
By Anne D'Innocenzio and Marcus Kabel, AP Business Writers
Wal-Mart Struggling With Rising Loss From Shoplifting and Employee Theft at Its U.S. Stores


NEW YORK (AP) --
Shoppers at Wal-Mart stores across America are loading carts with merchandise -- maybe a flat-screen TV, a few DVDs and a six-pack of beer -- and strolling out without paying. Employees also are helping themselves to goods they haven't paid for.

The world's largest retailer is saying little about these kinds of thefts, but its recent public disclosures that it is experiencing an increase in so-called shrinkage at its U.S. stores suggests that inventory losses due to shoplifting, employee theft, paperwork errors and supplier fraud could be worsening.

The hit is likely to rise to more than $3 billion this year for Wal-Mart Stores Inc., which generated sales of $348.6 billion last year, according to retail consultant Burt Flickinger III.

Flickinger and other analysts say the increase in theft may be tied to Wal-Mart's highly publicized decision last year to no longer prosecute minor cases of shoplifting in order to focus on organized shoplifting rings. Former employees also say staffing levels, including security personnel, have been reduced, making it easier for theft to occur. And a union-backed group critical of the retailer's personnel policies contends general worker discontent is playing a role.
Yahoo Bizz

Walmart security is a joke, but I usually get a full going over by the 90-year old crypt-keeper at the front door. Although, I can't imagine any of them giving chase if I told them to off and just walked out.