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…