Target sent shockwaves through the industry on Tuesday by saying it will close nine stores across four states due to large-scale theft. It is not clear whether the stores were under-performing or r…
Business leaders are expressing alarm after Target became the latest retailer to blame crime for pulling the plug on stores.
Crime statistics are not growing significantly more serious. But as economic fears grow amid inflation and rising borrowing costs, shoplifting often comes with the territory, industry watchers say. “We call on policymakers to tackle this problem head-on before it gets further out of control,” Wickman said.
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Target closing 3 Bay Area stores due to retail theft, company announces'We cannot continue operating these stores because theft and organized retail crime are threatening the safety of our team and guests.' Target says it is closing nine stores across four states due to retail theft including three in the Bay Area.
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Target to close 3 Bay Area stores, citing theft and employee safetyRetail giant Target on Tuesday announced it will shut down three Bay Area stores, saying rampant theft and organized retail crime were making it unsafe for its workers and customers and creating a business environment that was not sustainable.
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Target to close 9 stores, including 3 in the San Francisco Bay Area, citing safety concernsIt’s unclear how much money retailers broadly are losing due to organized retail crime — or if the problem has substantially increased.
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Target closing 3 Bay Area stores, blames organized retail crimeThe retail giant blamed organized retail crime and unsuccessful anti-theft measures.
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