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New Look invests in anti-theft technology

By FashionUnited

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British fashion chain New Look is investing in new technology to help combat potential theft and the possible loss of stock worth £4 million, according to a media report.

The retailer is launching RFID (radio frequency identification) tags on clothing this month, which should help reduce stock loss in the distribution chain and minimize theft in the stores. Next month, the company will add specialist software to monitor till transactions.

"We are losing £4 million a year that we should not be losing," chief executive, Phil Wrigley, told Computing ."We know the scale of the problem is amounting to big bucks because we have information from our stock takes. This software will minimise loss across the organisation," said the company's finance and IT director, Will Kernan.

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