Target said on Tuesday it would close nine stores across four US states, including California, citing that theft and organised retail crime was threatening the security of the retailer’s employees and customers.
Organised crime rings in New York, San Francisco, Los Angeles and Houston are targeting retail inventories, causing more financial loss, according to a report by the National Retail Federation (NRF), a trade group representing US retailers.
New CEO Tony Spring’s plan to shutter stores and improve products echoes previous efforts for revitalisation. To pull it off this time, the retailer must deliver transformational changes in the shopping experience.
In a partnership with resale service provider Reflaunt, the global logistics giant now offers a fulfilment, shipping and platforming solution for brand clients interested in entering the secondhand space.
The Golden State Warriors guard is rushing to capitalise on his athletic triumphs by bringing his brand off the court and on to the streets through his partnership with athletic-wear maker Under Armour Inc.