Articles by tag: Target
Target it set to close nine stores in cities including New York, Seattle, and San Francisco by October 21, amid concerns over theft and safety. In response to the growing concern of organized retail theft, Texas has established the Organized Retail Theft Task Force, with Texas Comptroller Glenn Hegar appointing ten members from various sectors,…
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Mob-led Theft is Costing the Retail Industry Billions. We Need More Than Just Store Security to Stop It.
Target has announced the closure of nine stores across California, Oregon, Washington, and New York, due to a surge in thefts and organized retail crime. And its shoplifting concerns are being echoed by other retailers: Whole Foods and Ulta Beauty are among the several businesses that have reported rising theft, while Nordstrom recently closed…
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Crime-Related Retail Closures Soared in 2022. Is Closing Shop the Right Solution?
There are rising concerns about increasing crime rates the past couple of years in the U.S., and the retail industry is no stranger to this. In fact, the 2022 National Retail Security Survey revealed a 26.5 percent increase in organized retail crime (ORC), according to the National Retail Foundation. How are retailers reacting? Some, like…
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Why Target Is Facing a $400 Million Profit Shortage
The consumer is feeling stressed, strategists are saying, and retailers should be cognizant as to why. With the holiday season fast approaching, companies would do well to reform their strategy to fit expectations. These areas of stress? Customers have less cash on hand than last year, and, as Lisa Miller, President, Lisa W. Miller…
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Organized Crime Targets Large Retail
Theft is always a concern for retailers. Particularly for stores like Target, which carries small but valuable products on open display shelves. While there has always been an understood amount of profit lost due to stolen or misplaced items, today’s retailers are dealing with something completely different. Organized crime, in the form of planned…
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Target Was the Target of Retail Thieves in 2022, And It Cost The Company Millions
Target’s recent quarterly earnings were unfortunately lackluster all-around, missing quarterly expectations with a profit margin of 3.9%, lower than its 5.35% estimates. Consumers’ dwindling confidence and tightening pocketbooks are likely to blame for a slow down in revenue for the retail giant; chairman and CEO of Target blamed “meaningfully” lower sales and profit margins…
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Are You Ready for the Retailer-as-Service Revolution?
Retail is exciting, fast-moving, and filled with opportunity, yet information overload is a constant challenge. Join retail strategist, speaker, and trainer Carol Spieckerman every other Thursday as she navigates past the noise to get to the heart of what really matters in retail. In every episode, Carol harnesses her latest retail trajectories and interviews with industry experts…