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Target has closed several stores due to theft and violence, which have contributed to a decline in sales.
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The closures in New York and other cities mark a series of setbacks for the big-box retailer.
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Target’s Chief Operating Officer sees more growth opportunities in New York despite the closures.
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Target will report its fiscal third-quarter earnings and update investors on its sales trends and future plans.
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Like other retailers, Target is facing softer sales and challenges related to inventory, backlash over its Pride collection, and losses from theft and organized retail crime.
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Some other retailers, such as Nordstrom and Walmart, have also closed stores in major cities.
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Evaluating and closing stores is a routine part of Target’s operations, but winning back customers and achieving growth remains a challenge.
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Target’s performance has been affected by the pandemic spending boom and the challenges of the post-pandemic period.