Target Shuttering Nine Locations Over Retail Theft Concerns Shared By Other Retailers

Target will close nine stores in four states in response to “theft and organized retail crime” threatening the safety of staff and guests and hurting business performance—an increasingly common cry among various retailers this year. Target announced the closures in a statement Tuesday, saying one New York City store, two Seattle stores, three Bay Area stores and three Portland stores will be closed by October 21. Target, which has nearly 2,000 stores in the U.S., fell short in sales estimates last quarter, a financial burden it partially attributed to increased...