Filco gets aggressive to fight shoplifting

Filco MD Ian Hunt has pledged to take aggressive action to combat shoplifting.

Writing in the retailer’s full-year accounts, he said that a rise in shoplifting had had a “direct impact” on pre-tax profits, which were down 22.6% to £462,615 in the year to 31 March 2011 on sales down 2% to £22.4m, and promised to get tough on offenders.

“The company will aggressively seek to reduce stock losses and will increase the size and scope of its internal security team and their procedures,” Hunt wrote.

There had been a “distinct” change in shopping habits, he added: “Basket size has reduced and the contents have a greater proportion of promotional items.”