Target Closing Stores in Major Cities Due to Rampant Theft, Impacting Communities
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Target is closing 9 stores in major cities like NYC, Seattle, and San Francisco due to theft and safety concerns. This impacts communities who relied on Target for affordable groceries and employment.
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Retailers like Nordstrom, Whole Foods, and Walmart have also closed urban locations citing theft, safety issues, and low profitability. Downtown areas are being impacted.
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Target's Harlem location was welcomed when it opened in 2010 but is now closing, disappointing locals who say it pushed out smaller grocers and lacks adequate replacement options.
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Experts say urban theft is catastrophic for already thin profit margins at small-format stores. Downtown disinvestment then causes a negative cycle making cities less livable.
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Retailers are being more transparent about theft struggles but solutions like added security are degrading the retail experience, rather than preventing the root causes.