advertisement
Forums

The Forum is sponsored by 
 

AAPL stock: Click Here

You are currently viewing the Tips and Deals forum
bullseye on your back?!....Target closes 9 stores in major cities due to theft & violence.....
Posted by: NewtonMP2100
Date: September 26, 2023 05:37PM
......the locations are:

one store in New York City's Harlem
two locations in Seattle
three stores in the San Francisco-Oakland area
three in Portland, Oregon


Target says it will close nine stores in major cities, citing violence and theft

....Target said Tuesday that it will close nine stores in major cities across the country, citing violence, theft and organized retail crime.

The company will close one store in New York City's Harlem neighborhood, two locations in Seattle, three stores in the San Francisco-Oakland area and three more in Portland, Oregon. The discounter said it will shutter the stores for good on Oct. 21.

"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 news release.

"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."

Target, which has nearly 2,000 stores in the U.S., has been outspoken about organized retail crime at its stores. It has said theft has driven higher levels of shrink, an industry term used to describe losses from goods that were damaged, misplaced or stolen.

With its announcement Tuesday, Target also stands apart in its decision to both shutter stores and to explicitly blame that decision on retail crime.

When the company reported fiscal second-quarter earnings in mid-May, CEO Brian Cornell said organized retail crime had shot up at its stores. He added shrink overall is expected to reduce Target's full-year profitability by more than $500 million compared to the year-ago period.

When asked if the company plans to close stores because of rising shrink, Cornell stressed Target's reluctance to shutter locations.

"We do not want to close stores. We know how important our stores are. They create local jobs, they generate taxes, they're very important for those local shoppers, and they play a critical role in communities across the country," Cornell said on a call with reporters in May.

"We'll continue to do everything in our power to keep our doors open," he added. "At the same time, we'll be closely monitoring the safety of our team and guests as well as the financial impact to our business as we determine the right path forward at Target."

The retail executive's comments led other companies to speak out on the problem, too, and to advocate for legislative reform. Following the passage of the Inform Act, which requires online marketplaces to disclose the identities of certain high-volume sellers to deter the sale of stolen and counterfeit goods, retailers and trade associations are now pushing for the passage of another bill called the Combating Organized Retail Crime Act.

The bill, which Target said it supports in Tuesday's news release, proposes stiffer penalties for theft offenses and calls for a change in the threshold prosecutors must meet before bringing federal theft cases. It would also provide retailers with a formal venue to exchange information with one another and law enforcement through the proposed Organized Retail Crime Coordination Center.

Since 2022, at least nine states — six so far this year — have passed similar laws to impose harsher penalties for organized retail crime offenses. Behind the sweep of legislation are retailers and trade associations, which are using their collective power to get the bills written and past the finish line.

Store closures, or the threat of them, have been a major factor in retailers convincing lawmakers to get on board, policy experts previously told CNBC......



............nine.........are closing................?!



_____________________________________

I reject your reality and substitute my own!



Edited 1 time(s). Last edit at 09/26/2023 05:43PM by NewtonMP2100.
Options:  Reply • Quote
Re: bullseye on your back?!....Target closes 9 stores in major cities due to theft & violence.....
Posted by: rz
Date: September 26, 2023 06:29PM
I wonder if one of the ones in Seattle is the one near Pike Place Market. We shopped there a couple of months ago when we were there.
Options:  Reply • Quote
Re: bullseye on your back?!....Target closes 9 stores in major cities due to theft & violence.....
Posted by: DeusxMac
Date: September 26, 2023 06:42PM
Quote
rz
I wonder if one of the ones in Seattle is the one near Pike Place Market. We shopped there a couple of months ago when we were there.

California Target closing stores
The three stores in the San Francisco/Oakland market closing are:
SF Folsom and 13th St: 1690 Folsom St
Oakland Broadway & 27th: 2650 Broadway
Pittsburg: 4301 Century Blvd

Portland Target stores closing
Portland Galleria: 939 SW Morrison St.
Portland Powell: 3031 SE Powell Blvd.
Portland Hollywood: 4030 NE Halsey St.

New York Target store closing
New York City: 517 E 117th Street, Harlem

Seattle Target stores closing
Seattle University Way: 4535 University Way NE
Seattle Ballard: 1448 NW Market St, Suite 100
Options:  Reply • Quote
Re: bullseye on your back?!....Target closes 9 stores in major cities due to theft & violence.....
Posted by: vision63
Date: September 26, 2023 07:55PM
Good. There are too many of them. The one's closing in Oakland was just a Jr. Target. About the size of a CVS. The one in San Francisco used to be a Sports Authority.

I had put a curse on the 27th/Broadway Oakland Target. We tried to save and revive a Biff's Diner that was located in that space. Not a curse on Target specifically, but on the Apartment development it's located in (Hanover Corp).

Options:  Reply • Quote
Re: bullseye on your back?!....Target closes 9 stores in major cities due to theft & violence.....
Posted by: M A V I C
Date: September 26, 2023 11:36PM
Quote
rz
I wonder if one of the ones in Seattle is the one near Pike Place Market. We shopped there a couple of months ago when we were there.

Nope. All north of downtown.

The problem is the city is letting organized crime get a free pass. There's six or eight stores downtown that resell goods stolen from other stores.

People go into stores with shipping carts or suitcases and clear out the shelves. The police won't respond. At one store near me, the same people come in nearly every day and clear out a few shelves.

They are starting to switch the shelving out to locked cases.




Help MacInTouch: Buy from Amazon? use this link [amazon.com]
Mac News & Info: [macintouch.com] [macnn.com] [tuaw.com]
Mac Benchmarks: [barefeats.com]
Used Mac Stuff [FS/T]: LowEndMac Swap List
Mac Software Updates: [macupdate.com]
Fonts: [dafont.com] [fontspace.com]
Online Computer Store With Mac Support: [macsales.com]
Options:  Reply • Quote
Re: bullseye on your back?!....Target closes 9 stores in major cities due to theft & violence.....
Posted by: Wags
Date: September 27, 2023 11:00AM
Good. Close them all. Walmart, too.
Options:  Reply • Quote
Sorry, only registered users may post in this forum.

Click here to login

Online Users

Guests: 162
Record Number of Users: 186 on February 20, 2020
Record Number of Guests: 5122 on October 03, 2020