Retailer Fights Back with Facial Recognition and Calls for Legal Reform
- Iceland chair Richard Walker warns of ‘low-level war’ on high streets due to shoplifting surge
- Thefts costing Iceland about £20m a year, funds that could be invested in stores
- Facial recognition technology being trialled to identify shoplifters and link profiles to police databases
- Walker supports new legislation to strengthen laws against shoplifters
- Criticizes ICO advice on displaying images of repeat offenders
- Calls for reform of business rates, describing current system as ‘Victorian’ and ‘outdated’
- Government budget increase in business taxes a ‘tough pill to swallow’
- Increase in employment costs coincides with cooling job market
- Iceland plans to open 30 outlets this year, targets £5bn annual sales
Iceland chair Richard Walker has warned that the rise in shoplifting has become a ’low-level war’ on high streets, urging retailers and the government to treat the problem as a serious threat. Thefts are costing the frozen food chain about £20m a year, funds which could otherwise be invested in stores. In response, Iceland is trialling facial recognition technology designed to identify shoplifters and link their profiles to police databases in an attempt to prevent attacks on staff. Walker supports new legislation to strengthen laws against shoplifters, including the removal of a £200 threshold that previously allowed offenders who stole goods below that value to avoid prison. He also criticized advice from the Information Commissioner’s Office (ICO) that Iceland should not display images of repeat offenders due to potential human rights implications. The retailer is calling for reform of business rates, describing the current system as ’Victorian’ and ’outdated’, and ’the primary reason’ why high streets are ’dying’. Walker also noted the increase in employment costs has coincided with a cooling job market, stating that Iceland is now receiving around 50 applications for every vacancy, the highest level the company has seen. The company plans to open 30 outlets this year and targets £5bn in annual sales.
Factuality Level: 8
Factuality Justification: The article provides accurate information about Iceland’s chair Richard Walker’s comments on shoplifting and his views on business rates. It also includes relevant details about the company’s performance and expansion plans. However, it contains some personal opinions and political statements that are not directly related to the main topic.
Noise Level: 2
Noise Justification: The article provides relevant information about the rise in shoplifting incidents and Iceland’s response to it, as well as Richard Walker’s opinions on business rates and political matters. It also mentions the company’s growth plans. However, it lacks a deeper analysis or exploration of the underlying causes and consequences of these issues.
Financial Relevance: Yes
Financial Markets Impacted: Retail industry, Iceland Foods
Financial Rating Justification: The article discusses the impact of shoplifting on retailers and the financial losses they face, as well as the implementation of facial recognition technology to prevent theft. It also mentions the company’s plans to open new outlets and set a target for annual sales. These topics are relevant to the financial performance of Iceland Foods and the broader retail industry.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: The article discusses the issue of rising shoplifting and its impact on retailers, but it does not mention an extreme event in the last 48 hours. The situation is described as a ‘low-level war’ going on every day, but it doesn’t meet the criteria for an extreme event.
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