Target announces nine store closures, cites 'organized retail crime'

Target announced Tuesday that nine of its stores across the country will be closed. The company will close stores in New York City, the San Francisco Bay area, Portland and Seattle, explicitly citing retail theft as the driving factor for the closures. "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," the company said in a press release. The retail chain operates about 1,950 stores in the U.S., so Tuesday's announcement would...