'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,' according to Target.
ExpandTheresa Seiger, Cox Media Group National Content DeskOfficials with Target on Tuesday announced plans to close nine stores in four states as businesses continue to grapple with an uptick in retail crime.
“Before making this decision, we invested heavily in strategies to prevent and stop theft and organized retail crime in our stores, such as adding more security team members, using third-party guard services, and implementing theft-deterrent tools across our business,” Target said. “Despite our efforts, unfortunately, we continue to face fundamental challenges to operating these stores safely and successfully.
The announcement from Target comes as retailers report a rising number of thefts at stores nationwide., businesses reported $112.1 billion in losses due to theft, up from the $93.9 billion worth of losses one year earlier.
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