Grocery Chain Reveals Shoplifting Losses Outpace Earnings as Theft Ticks Up

A grocery store chain in Europe said that shoplifting losses exceeded profits made by the company in 2023, reports show.

“We often catch people not scanning products, or not paying at the cash register. People are becoming increasingly sophisticated in not paying for products. You sometimes fall over in shock to witness how creative people are to take products without paying,” Ton van Veen, CEO of grocery chain Jumbo, told Netherlands-based news outlet ANP.

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Jumbo is a grocery chain with more than 700 locations that operate in both Belgium and the Netherlands. The company detailed in an earnings release that the value of items stolen from store locations was 25% higher than profits pulled in last year, the NL Times reported.

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