I don't get this. While baby formula is rather expensive, and doesn't need refrigeration, why is it such a hot item to steal? It's heavy, that's for sure. How about stealing diapers, they are getting smaller and smaller and they're a lot lighter than formula. Not cheap either, for that matter.
A supermarket checker gave me the answer a couple of years ago. For some reason it seemed that the cans were being returned for cash refunds without the presentation of a receipt. (I'm not sure why that is/was allowed.) Those cans of baby formula are extremely expensive. My "baby" is almost 17 and I used to pay over three dollars a can back then.
I have noticed that baby formula is no longer stocked on the shelf; there is usually a sign that ask "ask clerk for assistance."