Target blamed theft and violence for 9 store closures. Crime is higher at locations it kept open nearby
Publishing timestamp: 2023-12-19 11:05:45
Summary
A CNBC investigation found that Target's explanation for closing nine stores due to theft and violence is questionable, as the locations it chose to keep open near those stores actually had worse reported crime. This raises doubts about the company's motives and suggests that the announcement was a diversion from its poor financial performance.
Sentiment: MIXED
Tickers: TGT,
Keywords: portland, seattle, business, business news, retail industry, or, target corp, crime, breaking news: business, laws, new york city, san francisco, theft,
Source: https://www.cnbc.com/2023/12/19/target-store-closures-theft-and-crime-higher-nearby.html