Retailer’s efforts lead to significant reduction in thefts
- Archie Norman, chairman of Marks and Spencer, claims that the police are not interested in tackling shoplifting
- Shoplifting offences increased by 37% in the year ending 2023
- M&S has invested in store detectives, camera systems, and other technology to combat theft
- Theft at M&S has reduced significantly due to the company’s efforts
- The cost of living crisis and increase in other forms of crime have fueled thefts
Archie Norman, chairman of Marks and Spencer, has made a bold statement on LBC’s breakfast show, stating that retailers should accept that the police are not interested in tackling shoplifting. Norman expressed his frustration, saying that M&S receives very little help from the police and that they have to accept the reality of the situation. This comes as shoplifting offences have increased by 37% in the year ending 2023 compared to the previous year. In response to this, M&S has invested heavily in store detectives, camera systems, and other technology to combat theft. As a result, thefts at M&S have significantly reduced. Norman emphasized the importance of these measures, particularly in ensuring the safety of staff and customers. He also highlighted the impact of the pandemic, which has led to an increase in thefts and other criminal behavior, driven by the cost of living crisis. Norman acknowledged the role of self-checkouts in making shoplifting easier but expressed his belief in the importance of human touch and service in M&S stores. He stated that fully-automated, no-touch robotic stores should not be the future for M&S.
Factuality Level: 3
Factuality Justification: The article provides direct quotes from Archie Norman regarding the police’s lack of interest in tackling shoplifting and the measures M&S has taken to combat theft. However, the article lacks context on the broader issue of shoplifting and police resources, and it does not provide a balanced perspective from law enforcement or other stakeholders. The article also contains some repetitive information and does not delve into the complexities of the topic.
Noise Level: 3
Noise Justification: The article provides relevant information about the chairman of Marks and Spencer’s comments on shoplifting and the lack of police support. It includes statistics and quotes from Archie Norman, offering insights into the company’s efforts to combat theft. The article stays on topic and supports its claims with examples and data. However, it could benefit from more analysis on the broader implications of the issues discussed.
Financial Relevance: Yes
Financial Markets Impacted: Retail industry
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification:
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