The American retailer announced a major Target store shutdown on Tuesday, Sept. 26. The e-commerce giant confirmed that many of its stores in cities across four U.S. states will be affected.
If you are a regular Target consumer, here are the affected cities and when the Target store shutdown will start.
Target Announces Store Shutdowns Affecting Major US Cities
Shopping carts are lined up outside of a Target store on November 16, 2022 in Chicago, Illinois. Target’s stock plummeted today after the company reported a 52% drop in profits during the third quarter.
Target said that the decision to close some of its branches in the United States was not easy.
"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," said the Minnesota-based retailer via the Associated Press.
Target explained that the main reason for its store closures is organized retail crime, theft, and violent activities in its branches or near them. The American retailer added that they can no longer operate the affected stores because the mentioned crimes endanger their customers and employees.
Target also said these crimes make its business performances across the U.S. unsustainable. According to NBC News, one of the affected Target stores is the branch in New York City's Harlem neighborhood. Aside from this establishment, two Target stores in Seattle, three San Francisco-Oakland branches, and three Portland, Oregon stores will also close down.
In total, the e-commerce giant will shut down nine stores to protect employees and consumers from violent acts and other crimes. Target said it will start closing the mentioned stores on Oct. 21. The closures of these establishments will be permanent, as confirmed by the retailer.
Target CEO Talks About Worsening Crimes Affecting the Retailer
The exterior of a Target store in Los Angeles, California before the start of business on August 17, 2022. - US retail sales held steady in July as gas prices fell sharply, but the new data released Wednesday by the Commerce Department showed consumers are still spending.
Target CEO Brian Cornell said that many retailers, including their company, are suffering from worsening crimes over the past few years. In May, he said they expected theft-related losses of around $500 million in 2022.
Aside from this, Cornell also shared that violent incidents that affected Target stores and employees increased by almost 120% during the first five months of 2023. The retailer CEO said that they didn't want to close their stores. However, the rising crimes leave them with no other options.
"Our team continues to face an unacceptable amount of retail theft and organized retail crime. Unfortunately, safety incidents associated with theft are moving in the wrong direction," explained Cornell.
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