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In recent years, retail and crime have become a large -scale problem. Many retailers have tried to tackle the growing problem of innovations, such as Walgreens locks Whole freezing sections and a home depot deposit technology which prevents Stolen electric towels to light up. Walmart CEO even threatened to store Due to display problems, but now another retailer really follows this. Read the rest to find out which target stores will close soon due to retail flight and crime.

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Detail flight has a constant impact on many companies since 2020, but Target has been one of the most frank on this subject. In May profit call With analysts, CEO of Target Brian Cornell Called organized retail crime (ORC) an "urgent problem" for the retailer and others, because the offset attacks have negatively affected finances. At the time, CFO target Michael Fiddelke Note that the company expected a worsening of the retail flight to reduce its profitability for 2023 for 2023 by more than $ 500 million compared to 2022.

"Although narrowing can be motivated by multiple factors, the flight and organized crime of retail are increasingly urgent who have an impact on the team and our guests and other retailers," said Cornell during the call. "The worsening of withdrawal rates exerts significant pressure on our financial results. More specifically, depending on the results that we have seen so far this year, we expect the shrink to reduce our profitability of more than Half a billion dollars compared to last year. "

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It is not only the financial impact that is worried, however. During this call, Cornell said that the retail theft problem put the retailer's team and the guests "like damage", making it a major security problem. "The unfortunate fact is that violent incidents are increasing in our stores and throughout the retail industry," he said. "While we work to solve the problem, the security of our guests and members of our team will always be our main concern."

However, Target seemed to be reluctant to close the stores accordingly, Cornell explicitly noting that the company focused on maintaining stores open on the markets where these problems occurred. "We do not want to close the stores. We know how important our stores are. They create local jobs, they generate taxes, they are very important for these local buyers, and they play an essential role in communities through the country ", Cornell says on a separate call With journalists in May, by CNBC.

"We will continue to do everything in our power to keep our doors open," he added. "At the same time, we will closely monitor the security of our team and our customers as well as the financial impact on our company when we determine the right way in the future at Target."

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Despite an earlier reluctance, it seems that Target is no longer able to keep all of his stores open in the middle of power and retail crime. September 26 Press release , the company has announced that it would close certain stores to prioritize the security of its team members and guests. "At Target, we make the decision to close the stores very seriously, and do it only after having taken significant measures to invest in customer experience and improve business performance," said the retailer in its exit. "That said, we made the decision difficult to close nine target stores in four states." AE0FCC31AE342FD3A1346EBB1F342FCB

According to the press release, the nine stores will close their doors permanently on October 21, and closings will affect four major American cities: New York, Seattle, San Francisco and Portland. In New York, a place is closed in Harlem at 517 e 117th Street. Seattle will lose two stores, one in the University Way district at 4535 University Way Ne and the other in the Ballard region at 1448 NW Market St.

Meanwhile, Target plans to close three stores each in the San Francisco Bay region and the Portland markets. The retailer closes his location in Folsom and 13th Street in San Francisco, as well as two stores in the Bay region - one at 2650 Broadway in Oakland and the other at the 4301 Century BLVD in Pittsburg. In Portland, the stores will close the Galleria district at 939 Sw Morrison ST, the Powell district at 3031 SE Powell Blvd and the Hollywood district at 4030 Ne Halsey St.

Target explicitly declared that the growing risk of orc is the reason why he decided to close these nine stores. "In this case, we cannot continue to exploit these stores because the flight and organized retail crime threaten the security of our team and our customers, and contributing to unsustainable commercial performance," said the retailer. "We know that our stores play an important role in their communities, but we can only succeed if the work and purchase environment is safe for everyone."

The company even added that it had "invested massively in strategies to prevent and stop theft and organize retail crime in our stores" before making the decision. This included the addition of members of the security team, the use of third-party childcare services and even the implementation of flight-or tools of tools such as locking cases for theft products in flight .

"Despite our efforts, we unfortunately continue to deal with fundamental challenges to make these stores work safely and successfully," Target said in his press release.

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