Target to close 9 stores in major U.S. cities amid growing retail crime

  • World
  • Wednesday, 27 Sep 2023

WASHINGTON, Sept. 26 (Xinhua) -- U.S. retail giant Target said Tuesday that it will close nine stores in major cities across the country, after grappling with violence, theft and organized retail crime.

The company will close one store in New York City, two stores in Seattle, three stores in the San Francisco-Oakland area and three more in Portland, Oregon. These locations will be permanently closed on Oct. 21, according to CNBC.

"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," Target said in a press release.

Headquartered in Minneapolis, Minnesota, the general merchandise retailer has stores in all 50 U.S. states and the District of Columbia, boasting nearly 2,000 stores in the nation. It had a total revenue of 109 billion U.S. dollars in 2022.

In May, Target said organized retail crime is worsening and will cost the company 500 million dollars more in lost and stolen merchandise this year than last year.

Other retailers, including Walmart, Best Buy and Home Depot have also spoken out about the growing problem.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In World

Roundup: Rwanda's arts festival highlights vibrancy of African culture
US military shoot down missile launched into Gulf of Aden, CENTCOM says
Pope accepts resignation of Polish cleric accused of ignoring abuse
Soccer-Stuttgart slip up with 1-1 against Cologne to stay third
Italy and Canada sign security deals with Ukraine
China wins 6th straight women's title at table tennis team worlds (updated)
Somalia records more deaths from cholera amid surge in cases
Alexei Navalny's body handed over to his mother, spokeswoman says
Eiffel Tower operator says strike by staff has ended, site to reopen on Sunday
Dung dumped outside Russian ambassador's home in Poland on Ukraine war anniversary

Others Also Read