Nordstrom Says Losses From Theft at Historic High

Losses from theft are at a historic high at Nordstrom Inc., the company’s chief executive officer told analysts, making it the latest major US retailer to call out the rise in crime at its stores.

While theft has increased at Nordstrom stores in recent quarters, the losses are still within the company’s annual forecast, CEO Erik Nordstrom said on an earnings call. It’s a sign that retail executives are becoming accustomed to the rise in “shrink,” an industry term that includes shoplifting, employee theft and damaged goods.