Target is set to shutter nine of its stores across four states saying the decision is a result of theft and crime. Target Officials say they made the difficult decision because certain locations saw that organized retail crime was posing major safety concerns for employees and customers. The company announced they worked hard to focus on safety and avoid these closures. These efforts included the company adding extra security to its stores, using third party guard services, and deploying theft-deterrent tools throughout its operations. But, despite their efforts, they continue to grapple with significant challenges in operating these stores safely. The stores are set to close on October 21st.
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00:00 Target is set to shutter nine of its stores across four states, saying its decision is
00:05 as a result of theft and crime.
00:09 The company said they made the difficult decision because certain locations saw organized retail
00:14 crime pose safety concerns for employees and customers.
00:19 The company announced that before deciding to close these locations, they added extra
00:24 security to its stores, used third-party guard services and deployed theft deterrent tools
00:30 throughout its operations.
00:33 Target officials said that despite their efforts, they continue to grapple with significant
00:38 challenges in operating these stores "safely and successfully."
00:43 The stores set to close in some major cities include the East Harlem location in New York
00:48 City, the Seattle University Way and the Seattle Ballard stores in Seattle, and three locations
00:54 in California are set to close, which include the Pittsburgh, the San Francisco Folsom and
00:58 the Oakland Broadway stores.
01:00 Meanwhile in Portland, there are three locations set to shutter its stores, the Portland Galleria,
01:05 the Portland Powell and the Portland Hollywood.
01:08 Target officials said in a statement that all eligible employees will have the chance
01:12 to transfer to one of over 150 different Target locations.
01:17 In a survey released Tuesday, the National Retail Federation found that retail theft
01:21 has led to a significant loss for some retailers.
01:24 Over the past year, retailers have seen an increase in theft-associated losses jump from
01:30 $93.9 billion to $112.1 billion.
01:35 The nine stores are set to close on October 21.