Target Closing Stores in 4 States Due to Rampant Theft; Retailers Struggle with Shrinkage as Crime Increases

Target is closing 9 stores across 4 states due to increased theft and organized retail crime making the environment unsafe. Affected locations include New York, Seattle, Portland, San Francisco, and Oakland.
Retailers like Target, Nordstrom, and Whole Foods say they are struggling with increased theft and shrinkage (inventory loss), costing billions in losses annually.
However, some retailers believe the impact of theft is exaggerated. One Walgreens executive said the chain may have "cried too much" about shoplifting.
In Oakland, 200 business owners held a demonstration pleading for help from officials to increase public safety and curb rampant crime plaguing the area.
Interim Philadelphia Police Commissioner said looting on Tuesday night was people taking advantage of an unrelated situation, not connected to a judge's decision in a police shooting case.

cnn.com

Relevant topic timeline:

9/3/2023

Toothpaste, chocolate, deodorant under lock & key: US retailers voice alarm at rising theft, 'flash rob' attacks - Times of India

Retailers in the US, including Walmart, Target, and CVS, are experiencing an increase in theft and organized shoplifting, leading to heightened security measures such as locked shelves, padlocked refrigerators, and scattered call buttons, in an effort to combat the rising issue that is impacting their earnings.

9/28/2023

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

Following Target's announcement that it will close two Seattle stores due to safety concerns, questions arise about whether crime was the primary factor behind the decision, as police data points show that the most police responses this year were not directly related to the Target stores in the affected areas.

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

The rise in theft and violence at major retailers like Target is not only impacting the companies themselves but also negatively affecting the communities they operate in, leading to store closures, job losses, and reduced tax revenue.

9/29/2023

Target Closing Two Seattle Stores Amid Safety Concerns, No Layoffs Planned

Target will be closing its stores in the Ballard and University District neighborhoods of Seattle, affecting 90 workers who will be given the option to transfer to other locations.

9/30/2023

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 has commented on Target's mass store closures, highlighting that it is a reflection of rampant retail theft in our society and the tensions that companies need to address.

10/26/2023

Retail Theft Surges to $112B in U.S., Hits Cities Like L.A. and S.F. Hardest: New Report

The National Retail Federation's 2023 Retail Security Survey reveals that major U.S. cities, including Los Angeles, Oakland/San Francisco, and Houston, have been heavily impacted by organized retail crime, resulting in significant inventory shrink and financial losses for retailers.

Topics

Posted 9/27/2023, 11:26:00 AM

Target Closing Stores in 4 States Due to Rampant Theft; Retailers Struggle with Shrinkage as Crime Increases

Target is closing 9 stores across 4 states due to increased theft and organized retail crime making the environment unsafe. Affected locations include New York, Seattle, Portland, San Francisco, and Oakland.
Retailers like Target, Nordstrom, and Whole Foods say they are struggling with increased theft and shrinkage (inventory loss), costing billions in losses annually.
However, some retailers believe the impact of theft is exaggerated. One Walgreens executive said the chain may have "cried too much" about shoplifting.
In Oakland, 200 business owners held a demonstration pleading for help from officials to increase public safety and curb rampant crime plaguing the area.
Interim Philadelphia Police Commissioner said looting on Tuesday night was people taking advantage of an unrelated situation, not connected to a judge's decision in a police shooting case.

cnn.com

Relevant topic timeline:

9/3/2023

Toothpaste, chocolate, deodorant under lock & key: US retailers voice alarm at rising theft, 'flash rob' attacks - Times of India

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

9/29/2023

Target Closing Two Seattle Stores Amid Safety Concerns, No Layoffs Planned

Target will be closing its stores in the Ballard and University District neighborhoods of Seattle, affecting 90 workers who will be given the option to transfer to other locations.

9/30/2023

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

10/26/2023

Retail Theft Surges to $112B in U.S., Hits Cities Like L.A. and S.F. Hardest: New Report