Target’s decision to close nine of its stores in major cities, citing persistent large-scale theft at those locations is the latest signal that retailers may be struggling in their battle to contain a growing and dangerous problem.
Industry experts say even a small increase in crime can have massive, cascading effects that cause retailers to close stores. “It’s proof that store crimes are reaching a new level,” said Burt Flickinger, retail expert and managing director of retail consultancy Strategic Resource Group.
“When you have so many retailers all pointing to store theft and all saying the same thing, then it seems to a trend taking hold,” said Stambor. “Target has actually been at the forefront of shining a bright light on store crime.” Target, which operates nearly 2,000 stores in the US, in May said it was expecting to lose $500 million this year due to rising theft. “Retailers are fighting an uphill battle to contain crime.
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