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Survey: Shrink averages 1.5% of U.S. sales
Thorofare, N.J. -- Shrink, comprised of shoplifting, employee or supplier fraud, organized retail crime and administrative errors, cost the retail industry more than $112 billion globally last year, and represented 1.4% of retail sales, on average, according to the 2012-2013 Global Retail Theft Barometer. In the United States, shrink came in at 1.5% of retail sales.
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Cache Q3 loss widens
New York -- Cache's loss in the third quarter widened amid increased expenses. Its results were also impacted by a large income tax benefit last year.
For the period ended Sept. 28, Cache Inc. lost $8 million, compared to a loss of $6.4 million a year ago.
Revenue increased 3% to $47.2 million, from $45.8 million. Same-store sales were down 2.9%.