Oh no… one of our favorite retail giants is shuttering nine stores because of theft and organized crime, as reported by CNN. We love slowly trolling the aisles with the branded red carts, but some people’s dash-and-grab is spoiling the fun for the rest of us. Here's all the information we have about the planned closures.
Which Target stores are closing and when?
The nine stores that are closing are in four states. They include one in New York City, two in Seattle, three in Portland, one in Oakland, one in San Francisco and one in the Bay Area city of Pittsburg, CA. Employees at the closed stores can transfer their employment to other locations—the stores close next month on October 21.
Which specific addresses?
New York: Harlem: 517 E 117th St.
Seattle: 4535 University Way NE and 1448 NW Market St.
Portland: Portland Galleria, 939 SW Morrison St.; Portland Powell, 3031 SE Powell Blvd.; and Portland Hollywood, 4030 NE Halsey St.
San Francisco: 1690 Folsom St.
Oakland: 2650 Broadway
Pittsburg, CA: 4301 Century Blvd.
Why is Target closing nine stores?
According to Target’s official statement, “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. 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.”
What kind of loss are we talking about?
Because of increased shoplifting, Target expects to lose a jaw-dropping $500 million this year.
What has been said about the closures so far?
Sadly, these stores which will be closing were important in their communities. New York’s East Harlem location, which opened in 2010 supported the local economy. It was the first to open on the island of Manhattan and was accessible to pedestrians and mass transit users. Target also donates back to the communities in which its stores operate.
Couldn't this be avoided?
The company says that before deciding to close the nine stores, it tried other options, such as adding more security, third-party guard services, and theft-deterrent tools, such as locking cases for high-value items attractive to thieves. It will continue to use those safeguards in the stores that remain open. It’s also been training employees to de-escalate situations that could become dangerous or violent with organized crime incidents.
What about the cyber side?
Target is partnering with the Department of Homeland Security to track organized crime groups online. They are developing custom tools to prevent and detect theft and creating better ways to determine the extent of the organized crime groups’ damage.
Let’s hope the rest of the Target stores can stay open, safe and profitable. We’re rooting for you, retail friend!