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Retailers losing billions to inventory shrink
The nation's retailers lost a staggering amount of money in 2016 due to shoplifting, organized crime, internal theft and other types of inventory shrink. Inventory shrink totaled $48.9 billion in 2016, up from $45.2 billion the year before, as budget constraints left retail security budgets flat or declining, according to the annual National Retail Security Survey by the National Retail Federation and the University of Florida. The thefts amounted to 1.44% of sales, up from 1.38%. -
Barnes & Noble surprises in Q4
Ongoing cost reductions helped the nation's largest bookstore retailer narrow its loss in its fourth quarter even as its sales continued to slide. Barnes & Noble posted a net loss of $13.4 million, or $0.19 per share, for the quarter, compared to a loss of $30.6 million, or $0.42 per share, in the prior year. For the quarter, the company's retail division generated an operating loss of $15.9 million, while Nook incurred an operating loss of $7.9 million, for a total operating loss of $23.8 million.

