Target Corporation (NYSE:TGT) is to close nine stores across four states next month, saying that organised retail theft had threatened the safety of its employees and customers.
The big-box retailer said organised retail crime was “threatening the safety of our team and guests.”
The stores, located in New York, Seattle, the San Francisco and Oakland area, and Portland, will close on October 21, the company said.
All "eligible team members will be offered the opportunity to transfer to other Target locations," it added.
“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 statement.
"We know that our stores serve an important role in their communities, but we can only be successful if the working and shopping environment is safe for all," the company continued.
Target's closures would follow other big retailers, like Starbucks Corp (NASDAQ:SBUX) and Walgreens Boots Alliance Inc (NASDAQ:WBA) that have closed stores in bigger cities due to what they said was theft and other dangers to employees.
Other retailers, such as Foot Locker and Dick’s Sporting Goods, highlighted the impact of theft in recent earnings releases.