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(Reuters) – Goal stated on Tuesday it could shut 9 shops throughout 4 U.S. states, together with California, citing that theft and arranged retail crime was threatening the safety of the retailer’s workers and clients.
The transfer, efficient Oct. 21, will see the closing of 1 retailer in New York Metropolis, two in Seattle, three areas throughout the San Francisco and Oakland markets and three in Portland.
Regardless of heavy investments in safety, the corporate continued to face “elementary challenges” to working the shops safely, the retailer stated. It operates practically 2,000 shops throughout america.
“We can’t proceed working these shops as a result of theft and arranged retail crime are threatening the protection of our group and visitors, and contributing to unsustainable enterprise efficiency,” Goal stated in an announcement.
Theft and retail crime has change into an more and more urgent situation for U.S. retailers, with organized crime rings focusing on retail inventories and inflicting extra monetary loss to corporations.
A report by the Nationwide Retail Federation (NRF), a commerce affiliation, earlier on Tuesday confirmed stock “shrink” as a proportion of whole retail gross sales accounted for $112.1 billion in losses in 2022, up from $93.9 billion in 2021.
Minneapolis, Minnesota-based Goal stated it could work with all eligible workers on the affected areas to supply alternatives for switch to different Goal areas.
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