A retail merchandise display device with security shield includes a pair of opposed side supports. One or more peg hooks may be mounted between the pair of side supports within a retail merchandise containment region. A movable shield is positioned over an opening to the retail merchandise containment region. Movement of the shield from a lowed position to a raised position and/or from a raised position to a lowered position is detected by an alarm device of the display, which in turn is configured to produce an alarm signal.