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Target announced that it is closing nine stores in four states due to organized retail crime and violence. Target said it is closing three stores in Portland, Oregon, three in San Francisco and Oakland, California, two in Seattle, Washington, and one in New York City.
The stores will close on October 21.
"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," Target said in a press release announcing the closures.
While Target did not provide details about the amount of money those stores lost, the company previously said that organized retail crime has cost $500 million in profits.
Target said it invested heavily in strategies to keep the stores open but could not solve the problems plaguing them.
"Before making this decision, we invested heavily in strategies to prevent and stop theft and organized retail crime in our stores, such as adding more security team members, using third-party guard services, and implementing theft-deterrent tools across our business. Despite our efforts, unfortunately, we continue to face fundamental challenges to operating these stores safely and successfully," Target said.