Target Is Set To Close Nine Stores Due To Retail Theft

Target also announced it will be adding locked cases for merchandise categories that are more prone to theft.

Target announced its plans in response to retail theft.

The retailer is set to close nine stores starting on October 21st. The company said they cannot continue to operate these locations due to an increase in theft and organized retail crime that puts the safety of their team and guests at risk.

The decision came after Target reported that inventory shrinkage, mostly the theft of merchandise, would cut profits by $500 million this year.

More security is expected to be added to stores that will remain open, using third-party security guard services and implementing ‘theft-deterrent’ tools across the business. Target also announced it will be adding locked cases for merchandise categories that are more prone to theft.

The changes are expected to effect consumer’s shopping experience, but will be better in the long run. Target is one of many retailers addressing the issue of retail theft.