A Target store in Democrat-run San Francisco is locking all of its merchandise behind security glass to prevent theft.
QUICK FACTS:
- A Target store in the far-left city of San Francisco is now locking its entire inventory behind glass as a protective measure.
- “Like other retailers, organized retail crime is a concern across our business,” a Target spokesperson said. “We’re taking protective measures to keep our teams and guests safe while deterring and preventing theft.”
- The retail giant is also ramping up security officers and “using new technologies and tools to protect merchandise from being stolen.”
- “We are working with legislators, law enforcement, and retail industry partners to support public policy that would help achieve our goals of creating a safe environment in our stores and keeping our doors open in communities across the country,” the spokesperson continued.
TARGET CHIEF FINANCIAL OFFICER MICHAEL FIDDELKE ON RISING CRIME IN STORES:
“We know we’re not alone across retail in seeing a trend that I think has gotten increasingly worse over the last 12 to 18 months,” Fiddelke said.
BACKGROUND:
- In November 2022, Target Chief Financial Officer Michael Fiddelke told reporters at the time that “organized retail crime” was the reason for the company’s $400 million reduction in gross profit.
- “At Target, year-to-date, incremental shortage has already reduced our gross margin by more than $400 million vs. last year,” Fiddelke said. “We expect it will reduce our gross margin by more than $600 million for the full year.”
- Fiddelke added that the retailer brand is “taking the right actions in our stores to help curb that trend where we can” but that “becomes an increasing headwind on our business and we know the business of others.”
