Target is closing 9 stores because of a rise in store thefts

Target said on Tuesday that it is closing nine stores in four states because workers and customers are less safe there because of rising thefts and organized retail crime.

Four stores will close in San Francisco, three stores will close in Portland, Oregon, and two stores will close in Seattle on October 21.

A statement from Target said, "We cannot continue to operate these stores because theft and organized retail crime are putting the safety of our team and guests at risk and causing our business to perform in a way that can't be sustained." "We know that our stores are important to the communities where they're located, but we can only be successful if everyone feels safe both at work and when they shop."

Target also said it had added security guards and done other things to try to stop thefts at the shops in question, but nothing worked. The business said, "Unfortunately, despite our best efforts, we continue to face fundamental challenges to running these stores safely and successfully."

It's not just Target that's seeing more shoplifting and other problems. Other stores say that higher crime rates are hurting their business as well. Whole Foods briefly closed one of its flagship stores in San Francisco in April because of worries that employees would be in danger from crime in the area. And stores like Dick's Sporting Goods and Ulta Beauty have said that rising theft is another reason why profits are going down.

In August, Brian Cornell, CEO of Target, told Wall Street experts that attacks on Target store employees rose 120% in the first five months of the year compared to the same time last year.