According to Associated Press, it's what black people do when they need food in a hurricane.

See also: finding
A young man walks through deep flood water after looting a grocery store in New Orleans on Tuesday, Aug. 30, 2005. Flood waters continue to rise in New Orleans after Hurricane Katrina did extensive damage when it made landfall on Monday.
by kjsalfjldafds September 13, 2005
The action of stealing items usually in a time of mass hysteria or panic. See loot as well.
Being typical negros, Tyrone and Faquisha insisted upon looting Nike sneakers and pants instead of food and water in New Orleans.
by Clayton September 05, 2005
Not evacuating from a hurricane just so you can break into liquor stores and steal everything. And when you get caught, claim that you are poor and were forced to steal the booze.
Regular Joe: "Damn, why are there so many stupid niggers looting after a hurricane?"
Idiot liberal: "Oh, that poor African American was forced to steal because of that evil, evil George W. Bush. They can't help themselves."
Regular Joe: Fucking nigger!!!
by Michael J Moore September 07, 2005

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