Electricals group DSGi made headlines yesterday after discovering theft on a grand scale at the warehouse of French business Fotovista. The fraud - to the tune of£10 million - is expected to wipe out the profits of its new businesses division.
The incident at DSGi was internal. It's caused problems for the retailer, but shoppers were unaffected. However, a separate fraud affecting value retailer TJX - owner of TK Maxx in the UK - is another matter altogether.
The US-based store group disclosed that criminals had stolen customers' credit card details. As many as 45 million shoppers are affected. This is bound to stoke consumer fear about credit card security and damage their trust in retailers.
The industry has spent years - and millions of pounds - trying to protect shoppers from such crime. Fear of identity theft is one of the biggest consumer concerns of the moment.
The introduction of Chip and PIN helped make information more secure, but the incident at TJX will undermine confidence both in the card system and in retailers' ability to keep customer data secure.
As widely expected, Alliance Boots deputy chairman Stefano Pessina and private equity group KKR have tabled a new bid for the health and beauty group.
The original offer of£10 has been increased by 40p and the retailer will open its books to the would-be buyers.
Shareholders will decide whether they think it is fair value. However, the Alliance Boots merger has been a bit of a fiasco from which few will emerge with credit. It's less than a year since the two companies paired, with Pessina's backing. To take it private so soon makes the whole enterprise look misguided.
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