Axios reports:
Target announced Tuesday that it is shuttering nine stores on Oct. 21 because “theft and organized retail crime are threatening the safety of our team and guests.” Organized retail crime accounted for $112.1 billion in losses in 2022, a National Retail Federation report released Tuesday found.
Organized retail crime — where gangs of thieves swarm stores for products they can resell online — has become increasingly brazen and also led to huge losses for companies. Target said it cannot continue to operate the nine stores in four states because they are “contributing to unsustainable business performance.”
The closings include a New York City store in Harlem, two Seattle stores, three stores in the San Francisco/Oakland market and three Portland, Oregon stores.
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Target will close three stores in San Francisco, saying that theft and organized retail crime have threatened the safety of its workers and customers https://t.co/Ja3U4dkOBw
— KTLA (@KTLA) September 26, 2023