Police in Memphis, Tenn. have arrested nine men in connection with the large-scale theft of Nike products from a train boxcar.
According to court documents viewed by FN, Memphis police on Friday obtained on anonymous tip that cases of Nike product stolen from a nearby rail yard were being held in a residence at 1436 Todds Creek Road. An officer that arrived at the residence witnessed several men carrying what looked like large Nike boxes from the residence to a car.
Police arrested nine men in connection with the theft, and found about 35 cases of Nike shoes inside one of the cars and three standalone Nike shoe boxes in another car. Police found about 30 more cases of Nike shoes when they search the residence.
A Nike representative who was present at the scene estimated the total value of the stolen goods to be about $50,000, court documents read.
FN has reached out to Nike for a comment.
The news marks the latest example of a high value sneaker theft to occur in recent months. Last month, Los Angeles police announced the arrest of a suspect in connection with a large theft of Nike products worth $5 million. And in October, police reportedly uncovered close to $5 million worth of stolen goods in a Chicago warehouse that included stolen shoes from brands such as Nike, Yeezy, Supreme and Ugg.
A broad surge in retail crime has recently plagued several stores and brands across the country. The National Retail Federation’s 2023 National Retail Security Survey found that retail shrink, when taken as a percentage of total sales in 2022, accounted for $112.1 billion in losses in 2022, up from $93.9 billion in 2021. Throughout 2023, retailers like Dick’s Sporting Goods and Target have spoken out about the issue as theft continues to eat away at profits.
