Major US retailer Target on Wednesday said it is closing nearly a dozen outlets across the US due to what it says are rising levels of theft, organized crime — and even violence — at its department stores in New York, Oregon, California and Washington state..It comes after a flash mob, coordinated on social media, swarmed stores and stuffed bags with merchandise in Philadelphia. Although Target wasn’t affected in that incident, Foot Locker, Lululemon and Apple were looted..According to press reports, it followed a peaceful protest over a judge’s decision to dismiss murder charges against a Philadelphia police officer who shot a city teen through a rolled up car window — although Interim Police Commissioner John Stanford said the shoplifters were not affiliated with the demonstration, calling the group “a bunch of criminal opportunists.”.Meanwhile, Target said it expects to lose as much as US$500 million this year due to what it calls inventory ‘shrinkage’, which includes theft as well as losses from merchandise returns and warehouse damage. .It’s not immediately clear how much is directly related to shoplifting, but the US National Retail Foundation estimates shoplifting is a $100 billion problem in the Lower 48 and about CAD$5 billion in this country according to the Retail Council of Canada..Retailers must in turn recover $100 for every $1 lost, it adds..Target has been outspoken among US retailers for addressing the problem. It’s believed to be the first time a retail business has specifically blamed theft and crime for closing stores. American lawmakers and trade associations are proposing a bill called the Combating Organized Retail Crime Act..“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.”
Major US retailer Target on Wednesday said it is closing nearly a dozen outlets across the US due to what it says are rising levels of theft, organized crime — and even violence — at its department stores in New York, Oregon, California and Washington state..It comes after a flash mob, coordinated on social media, swarmed stores and stuffed bags with merchandise in Philadelphia. Although Target wasn’t affected in that incident, Foot Locker, Lululemon and Apple were looted..According to press reports, it followed a peaceful protest over a judge’s decision to dismiss murder charges against a Philadelphia police officer who shot a city teen through a rolled up car window — although Interim Police Commissioner John Stanford said the shoplifters were not affiliated with the demonstration, calling the group “a bunch of criminal opportunists.”.Meanwhile, Target said it expects to lose as much as US$500 million this year due to what it calls inventory ‘shrinkage’, which includes theft as well as losses from merchandise returns and warehouse damage. .It’s not immediately clear how much is directly related to shoplifting, but the US National Retail Foundation estimates shoplifting is a $100 billion problem in the Lower 48 and about CAD$5 billion in this country according to the Retail Council of Canada..Retailers must in turn recover $100 for every $1 lost, it adds..Target has been outspoken among US retailers for addressing the problem. It’s believed to be the first time a retail business has specifically blamed theft and crime for closing stores. American lawmakers and trade associations are proposing a bill called the Combating Organized Retail Crime Act..“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.”
