TOTAL RETAIL LOSS Report
HELP REQUIRED WITH NEW RESEARCH ON TOTAL RETAIL LOSS
In 2016 Professor Beck published a report on the Total Retail Loss (TRL) concept (https://tinyurl.com/y8v5o2p2) which aimed to provide the retail industry with a new way to define and measure how losses impact upon retail organisations. Since then it has begun to be adopted by retailers around the world to varying degrees.

He is now starting some new research to develop this work further, looking particularly to:

1. Find out about levels of awareness and use of the Total Retail Loss concept.
2. Understand how it should be adapted to keep it fit for purpose.
3. Consider the barriers to its use.
4. Assemble tools and techniques to help those who may want to use it in the future.

The first part of this research is a short online survey of retailers from around the world on their levels of awareness of the TRL concept. He would be very grateful if you could find 10 minutes to complete this survey, which can be found at:

TOTAL RETAIL LOSS SURVEY LINK

The deadline for replying is 28th February 2019. Thank you very much for taking the time to contribute to this research – your support is very much appreciated. The results of this work will be made freely available in the summer of 2019. Please do contact Professor Beck if you would like to find out more about this research.

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New privacy initiative, headed by ADT, to establish home security standards, best practices
Recently, Ring was outed by major news outlets for Ukraine engineers and executives at Ring having “highly privileged access” to live customer camera feeds — both doorbell cameras and in-home cameras — around the world, while a NEST camera was hijacked with a voice warning a California family that three missiles from North Korea were headed to the U.S., which, of course, was not true, but I can imagine sent the family into sheer panic. 

With breaches such as these, among the millions of other data breaches and exposed records in the United States alone, ADT in partnership with SIA, The Monitoring Association, Electronic Security Association, the Internet Society’s Online Trust Alliance and TrustArc are creating a new consumer privacy initiative.

“Alongside industry organizations and partners, we will be outlining privacy and ethics priorities for the industry, creating an external and internal advisory board, and updating our promise to customers: ‘At ADT we are dedicated to your safety, and helping take care of what you value and cherish most in your life: your loved ones, your property and your privacy,” ADT’s CEO, Jim DeVries, said in an internal company memo that went out to all 19,000 ADT employees and to SSN, exclusively. securitysystemsnews.com

The Loss Prevention Foundation Announces the First 2019 Learning Day
Learning Day Partnership with the University of Indianapolis Department of Criminal Justice

The Loss Prevention Foundation (LPF) is proud to announce the first LPF Learning Day for 2019. The one-day seminar will be held Tuesday, March 12 at the University of Indianapolis from 9:00am – 4:00pm and is dedicated to the loss prevention industry and the opportunities it affords. This event is being held for anyone interested in a career in public safety, business or related fields, as well as, current LP professionals looking to take their career to the next level.

The agenda includes speakers Kevin Whiteacre, LPQ & Jim Perillo, LPC from the University of Indianapolis, as well as, speakers from Axis Communications, Profitect, Simon Operation Intelligence Center, Simon Malls, Sensormatic, LP Magazine, 7-eleven, Fleet Pride, Sears, Lifeway Christian Stores, Wicklander-Zulawski, LP Media Group, STANLEY Security, Instakey, Protos Security and the Loss Prevention Foundation. These industry professionals will share insights on asset protection, professional development strategies, and security techniques including crisis management, cyber-crime defense and Intelligent CCTV Systems.

Do not miss the opportunity to get a closer look into the LP/AP profession, earn CEUs towards your Loss Prevention Certification (LPC), have a chance to win an LPF Course Scholarship and meet some of the top retail LP/AP leaders and solution providers within the industry. Register Here

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A Double Whammy For Retail
It's Going to Impact Q1 Numbers Along With Shutdown
Extreme cold weather's impact on business in the Midwest
The extreme cold weather in much of the U.S. this week means many people are staying home – and it’s having an impact on businesses.

The last time businesses faced a similar situation was in 2014 when another polar vortex gripped much of the country. It cost the U.S. economy $5 billion. Walsh does not expect the impact of this one to be as dramatic.

No doubt restaurants that have stayed open are delivering more food this week, while people search for beach vacations online. Once the first glimmer of spring comes into view, “it gets people in the mood to go out and start buying,” says Walsh. “That usually happens right around the Easter break.” yahoo.com

Polar vortex death toll rises as Arctic blast keeps the Midwest in a deep freeze
Governors in Wisconsin and Michigan declared states of emergency and ordered all state government offices closed; some state agencies in Illinois were closed, as well.

Businesses and schools closed, travel was disrupted and officials warned millions of people to stay inside as temperatures plunged to dangerous depths across several states. washingtonpost.com

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Report: Annual Global Risk Forecast
WorldAware’s 2019 Global Forecast addresses key threats that may impact your organization’s people and operations this year. Compiled by intelligence analysts and security experts, some of the topics in this annual risk report include the possibility of escalating violence in the Middle East, risks of a no-deal Brexit, the growing threat of virtual kidnapping, potential for increased number of airline failures, and long-term hazards posed by wildfires.

Download the 2019 Global Forecast Executive Summary; access country-level threat assessment maps for security, health, terrorism, and kidnapping; and listen to podcasts where experts provide additional insight on select topics. Download Here

How one savvy startup may be changing the future of food waste
Few things hurt a supermarket’s bottom line more than food waste: It costs retailers globally nearly $100 billion annually, according to the Food and Agriculture Organization of the United Nations. Put another way, between onethird and one-half of all food produced is wasted worldwide every year, estimates the Institution of Mechanical Engineers.

That might explain why three entrepreneurs founded Wasteless, a startup focused on helping supermarkets fight food waste, in 2017. Using its proprietary machine-learning pricing engine, Wasteless prices products dynamically in real time based on a series of variables, including expiration date, shelf capacity, regional factors, brand strength and on-shelf competition. Prices are displayed on electronic shelf labels or online checkouts where consumers can see the product’s regular price as well as a discounted price for a specific expiration date. stores.org

Seafood Processor Sentenced to 45 Months for Selling 183 Tons of Foreign Crab Meat Falsely Labeled as Blue Crab From USA
His Security Cameras Actually Filmed His People in the Act
On January 10, 2019, James R. Casey of Poquoson, Virginia, was sentenced by U.S. District Judge Raymond A. Jackson, in Norfolk, Virginia, to 45 months in prison and a $15,000 fine for his role in conspiring to falsely label millions of dollars’ worth of foreign crab meat as “Product of USA.”

Casey—who was the owner and President of Casey’s Seafood Inc., a wholesale processor of crab meat and other seafood—admitted to substituting foreign crab meat for domestically harvested blue crab. Videos, which were recorded by Casey’s Seafood’s security camera, and which were filed with the court, show company employees removing foreign crab meat from cans and plastic bags, and repackaging the crab meat into plastic containers labeled “Product of USA.” In the filed papers, Casey admitted to directing his employees to substitute and falsely label more than 183 tons of foreign crab meat, which was then sold to grocery stores and independent retailers. justice.gov

It's About Time Somebody Stopped This
Is Eddie Lampert set to 'steal' Kenmore brand?
The U.S. government, major mall owners and other creditors are lining up to block the effort to hold off liquidation, setting up a courtroom clash to decide the fate of one of America's most iconic retailers.

The federal agency that backstops corporate pensions is objecting to Sears chairman, investor and former CEO Eddie Lampert's bid to acquire the retailer out of bankruptcy, a deal that presents the last remaining alternative to going out of business altogether. The agency accused Lampert of structuring the deal to inappropriately obtain ownership of the chain's Kenmore appliance brand and the DieHard tools brand.

That the bankruptcy is coming down to a dramatic clash between Lampert and Sears on one side and the U.S. government and creditors on the other side is fittingly dramatic for a company whose slow-motion collapse has been mourned, mocked and foretold by many observers for the past several years. usatoday.com

Editor's Note: Talk about playing the long game. Lampert and everybody else for that matter, knew exactly what the final act was. And he'll reap billions as he sits in his mansion in Miami - absolutely afraid to fly, shuttling executives to and from Chicago and driving LP absolutely crazy with executive protection details.

The running list of 2019 bankruptcy victims
Last year delivered some of the biggest bankruptcies in retail history, including the Chapter 11 filing of 125-year-old department store, Sears.  

During the fall of 2018, Retail Dive looked at data and FRISK scores from CreditRiskMonitor to predict which retailers could go bankrupt in 2019. Those stores at risk included J.C. Penney, Neiman Marcus, J. Crew and 99 Cents Only.

Below is a list of the major filings so far this year.

Jan. 16 Gymboree - closing all 800
Jan. 16 Shopko - closing 39+ - Walgreens won 63 stores
Jan. 11 Innovative Mattress Solutions
Jan. 6 Beauty Brands closing 25 & sell remaining 33 retaildive.com

From dead mall to Amazon warehouse:
Shuttered retail stores getting a new life
CBRE finds two dozen examples of properties across the country that were once home to retailers but now have turned — or are in the process of being turned — into industrial centers.

The trend is expected to gain in popularity as more stores and malls go dark, while retailers and third-party logistics providers alike are on the hunt for real estate for warehouses.

Six dead malls across the U.S. are either in the process of being turned into or have been revamped as massive manufacturing plants and logistics hubs. The empty Euclid Square Mall in Euclid, Ohio, for example, is under construction to become home to a new Amazon e-commerce fulfillment center. And that's after Amazon already moved into a new facility where Randall Park Mall used to sit in North Randall, Ohio.

With the demand for warehouse space not expected to slowdown anytime soon, deals like the one where Amazon took over an old mall in Ohio will likely only become more of the norm. cnbc.com

Editor's Note: Randal Park Mall - the only mall to be closed due to crime.

UK's B&Q leaked personal details of thousands of suspected shoplifters
B&Q has launched an internal investigation after swathes of data exposing the names and vehicle descriptions of suspected shop lifters was leaked online. The DIY retailer exposed 70,000 offender and incident logs online on an Elasticsearch server, an open source search engine which can be accessed by anyone, according to a security researcher.

Ctrlbox Information Security’s chief executive Lee Johnstone was the first to inform B&Q of the leak, and reportedly sent the retailer numerous messages before the logs were eventually taken down 11 days later.

According to Johnstone’s blog, the details included the first and last names of individuals suspected of stealing goods alongside their descriptions, details of their vehicles and other information relating to the incidents. Other details including the value of the goods involved and the associated loss were also part of the leak. retailgazette.co.uk

C-Store Decisions: Safety is a Virtue in C-Stores
It is risks to safety within a store environment that must be guarded against: emergency situations, negligent behaviors and robberies are threats a convenience store operator hopes never creeps up, but must be prepared to stem to protect people and property. Safety is a very broad subject indeed, but broken down, with a clear focus in mind, it’s an issue that can be managed properly - with the right strategies in place. cstoredecisions.com

New Job for Robots: Taking Stock for Retailers
Retailers that have been turning to robots to handle inventory in warehouses are testing whether machines can handle a new task: detecting when store shelves need restocking.

Keeping track of inventory and doing it quickly has become one of the most pressing supply-chain concerns for merchants as they try to put into place new strategies for selling and delivering goods under the fast-changing demands of e-commerce.

Services including rapid home delivery and buy online-pickup in store are pushing retailers to blur the lines between distribution centers and stores - and obscure their view of how many items may be in stock and where the goods are held.

The complicated blending of inventories in stores and warehouses has some retailers testing the use of shelf-scanning robots that roam store aisles and send restocking data back through their networks. wsj.com

Holiday returns challenge supply chain flexibility
Relaxed return policies and growing e-commerce drives $400B in annual returns
With the rise in e-commerce has come an annual torrent of post-holiday returns. Millions of packages that flowed one-way through the supply chain to the consumer must now be turned and move back through the supply chain to the appropriate destination. No easy task for a logistics system largely built to deliver. But reverse logistics is not only a feature of the holidays e-commerce rush but an everyday challenge to the supply chain.

It’s estimated that returns cost retailers around $3 per package when delivered to stores and approximately $6 when returned to a Distribution Center. But it isn’t just about the holidays anymore. With e-commerce, growing returns are becoming a critical feature of the supply chain.

Relaxed return policies and this year’s wealth of e-commerce have contributed to a unique and growing trend in retail shopping. Among high-end retailers, Nordstrom, Macy’s, and Bloomingdales lead the field in easing their return policies. Online retailers like L.L. Bean, Land’s End and Amazon also offer easy returns. Even specialty shops such as Bath & Body Works, ULTA Beauty, and SEPHORA make it simple to give merchandise back. ajot.com

Public stances by businesses raise risk of consumer boycotts
26% of Americans are currently boycotting a company they previously spent $ with
Companies need to take care of the causes and people they publicly support. That’s according to a survey by CompreCards in which 53% of respondents said they would no longer shop at their favorite retailer if it publicly supported a person or cause they strongly disagreed with. According to the survey, in the past year, 35% of Generation X and 33% of Millennials have boycotted a company or product they had spent money on in the past. Thirty percent of Gen X and 26% of Millennials are currently boycotting.

The survey found that while many Americans feel that people are too quick to call for a boycott, most think they can be effective and would consider joining one in the future.

Overall, 26% of Americans are currently boycotting a company or product they had spent money on in the past, while 32% had boycotted at some point in the past year. chainstoreage.com

Discarded clothes pile up in landfills

7 ways convenience stores can combat anti-social behavior

Francesca's explores strategic alternatives, possible sale

Read the D&D Daily's Senior LP/AP Jobs Report