Target Closing Stores in Major Cities Due to Rising Retail Theft and Safety Concerns, Says Former Best Buy CEO

Former Best Buy CEO Hubert Joly discussed Target's store closures and rising retail theft.
Target is closing 9 stores in major cities by October 2023 due to rampant crime and safety concerns.
Joly said organized retail crime groups are taking advantage of retailers who don't want employees getting hurt.
He believes the rise in retail crime stems from larger societal wealth inequality and divisions.
Target said it has invested heavily in security but faces challenges operating stores safely amid high theft levels.

the-sun.com

Relevant topic timeline:

8/30/2023

How Best Buy is winning the war against retail theft

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Target Closing 9 Stores in Major Cities Due to Rampant Theft and Retail Crime

Target will close nine stores in major cities across the US due to violence, theft, and organized retail crime, citing the threat to the safety of its employees and customers as well as unsustainable business performance.

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Target Shutting Down East Harlem Store Due to Safety Concerns, Part of Broader Closures

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Target closing Seattle stores despite crime data, surprising locals who question real motives

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Business Leaders Alarmed by Store Closures Caused by Surge in Retail Theft

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9/29/2023

Target executive: Organized retail crime surging, forcing store closures

The former vice chairman of Target expressed his distress over the escalating theft and crime rates that have led the company to close stores in liberal cities due to concerns for public safety.

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Target Closes Stores in Major Cities as Theft, Loss of Customers, and Labor Shortages Take Toll

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Topics

Posted 9/30/2023, 5:25:01 PM

Target Closing Stores in Major Cities Due to Rising Retail Theft and Safety Concerns, Says Former Best Buy CEO

Former Best Buy CEO Hubert Joly discussed Target's store closures and rising retail theft.
Target is closing 9 stores in major cities by October 2023 due to rampant crime and safety concerns.
Joly said organized retail crime groups are taking advantage of retailers who don't want employees getting hurt.
He believes the rise in retail crime stems from larger societal wealth inequality and divisions.
Target said it has invested heavily in security but faces challenges operating stores safely amid high theft levels.

the-sun.com

Relevant topic timeline:

8/30/2023

How Best Buy is winning the war against retail theft

9/26/2023

Target Closing 9 Stores in Major Cities Due to Rampant Theft and Retail Crime

9/27/2023

Target Shutting Down East Harlem Store Due to Safety Concerns, Part of Broader Closures

Target is shutting down its store in East Harlem due to theft and crime, despite efforts by New York officers to protect the store and reduce incidents.

9/28/2023

Target closing Seattle stores despite crime data, surprising locals who question real motives

9/28/2023

Business Leaders Alarmed by Store Closures Caused by Surge in Retail Theft

Business leaders express alarm as Target announces the closure of nine stores due to large-scale theft, prompting concerns about the growing problem of organized retail crime.

9/29/2023

Target executive: Organized retail crime surging, forcing store closures

The former vice chairman of Target expressed his distress over the escalating theft and crime rates that have led the company to close stores in liberal cities due to concerns for public safety.

9/29/2023

Retail Theft Surges, Forcing Target and Other Major Retailers to Close Stores

10/12/2023

Target Closes Stores in Major Cities as Theft, Loss of Customers, and Labor Shortages Take Toll