Target says it will close nine stores in major cities, citing violence and theft

CNBC ^ | 9/26/2023 | By Melissa Repko and Gabrielle Fonrouge

[NohSpinZone]

Target said Tuesday that it will close nine stores in major cities across the country, citing violence, theft and organized retail crime.

The company will close one store in New York City’s Harlem neighborhood, two locations in Seattle, three stores in the San Francisco-Oakland area and three more in Portland, Oregon. The discounter said it will shutter the stores for good on Oct. 21.

“We cannot continue operating these stores because theft and organized retail crime are threatening the safety of our team and guests, and contributing to unsustainable business performance,” Target said in a news release.

“We know that our stores serve an important role in their communities, but we can only be successful if the working and shopping environment is safe for all.”

Target, which has nearly 2,000 stores in the U.S., has been outspoken about organized retail crime at its stores. It has said theft has driven higher levels of shrink, an industry term used to describe losses from goods that were damaged, misplaced or stolen.

With its announcement Tuesday, Target also stands apart in its decision to both shutter stores and to explicitly blame that decision on retail crime.

[dennisw]

They are the exception...... And to think that Portland was a hippie style WhiteTopia dew years ago. Where antifa and homelessness was nearly zero.

[ViLaLuz]

Go woke, go broke.

[Albion Wilde]

TARGET Target announced a $10 million commitment in an effort to advance social justice through supporting partners like the National Urban League and the African American Leadership Forum.

If Target hired a lot of those folks, wonder how much of the "shrink" is inside jobs?

[matt04]

You know it is bad when Target comes out ans says it is do to theft. They usually use weasel words, like “under-performing stores” or “to focus on our better performing stores” when they close stores in these areas.

[Twotone]

If you would like more information about what’s happening in Oregon, please FReepmail me. Please send me your name by FReepmail if you want to be on this list.

[goodnesswins]

Not sure this is a “race” thing...the Seattle & Portland stores (except one) don,’t seem to be in certain communities. I think they are feeling the outrage from people over their stupid groomer policies.