It’s unclear how much money retailers broadly are losing due to organized retail crime — or if the problem has substantially increased.
But the issue has received more notice in the past few years as high-profile smash-and-grab retail thefts and flash mob robberies have garnered national media attention. Over the past few quarters, an increasing number of retailers including Dick's Sporting Goods and Ulta Beauty have been calling out rising theft, citing it a factor in shrinking profits.
Target said it has invested heavily in strategies to prevent theft, such as adding more security workers, using third-party guard services and installing theft-deterrent tools, like locking up merchandise. It also has trained store leaders and security team members to protect themselves and de-escalate potential safety issues.
Target CEO Brian Cornell has been one of a handful of retail CEOs flagging what they described as rising theft over the past year or so. Cornell had held steadfast he didn't want to resort to closing stores despite mounting losses. Target said in May that theft wasand it expected related losses could be $500 million more than last year, when losses from theft were estimated to be anywhere from $700 million to $800 million. So that means losses could top $1.2 billion this fiscal year.
But the issue has received more notice in the past few years as high-profile smash-and-grab retail thefts and
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Target to close 9 stores including 3 in San Francisco, citing theft that threatens workers, shoppersTarget said it's closing nine store in four states, including one in East Harlem, New York and three in San Francisco, saying that theft and organized retail crime have threatened the safety of its workers and customers.
Consulte Mais informação »
Target to close 9 stores including 3 in San Francisco, citing theft that threatens workers, shoppersTarget said it's closing nine store in four states, including one in East Harlem, New York and three in San Francisco, saying that theft and organized retail crime have threatened the safety of its workers and customers.
Consulte Mais informação »
Target to close 9 stores including 3 in San Francisco, citing theft that threatens workers, shoppersTarget said it's closing nine store in four states, including one in East Harlem, New York and three in San Francisco, saying that theft and organized retail crime have threatened the safety of its workers and customers.
Consulte Mais informação »
Target to close 9 stores including 3 in San Francisco, citing theft that threatens workers, shoppersTarget said it's closing nine stores in four states, including one in East Harlem, New York and three in San Francisco, saying that theft and organized retail crime have threatened the safety of its workers and customers.
Consulte Mais informação »