Big-box retail chain Target Corp. on Tuesday said it would close nine of its stores across four states next month.
Big-box retail chain Target Corp. on Tuesday said it would close nine of its stores across four states next month, saying that organized retail theft had threatened the safety of its employees and customers.
The stores — located in New York, Seattle, San Francisco, Oakland, and Portland — will shutter on Oct. 21, the company said. Target TGT, -2.54% said all “eligible team members will be offered the opportunity to transfer to other Target locations.” “In this case, 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 statement.
“We know that our stores serve an important role in their communities, but we can only be successful if the working and shopping environment is safe for all,” the company continued. Management said the company added security staff and third-party guard services and took other theft-deterrent measures. It also said that dozens of Target stores were still open in the affected cities, and noted its donations and volunteer work in those areas.
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