Target faces store closures and sales decline due to theft, violence, and softer sales, but COO sees growth opportunities in NY

  • Target has closed several stores due to theft and violence, which have contributed to a decline in sales.

  • The closures in New York and other cities mark a series of setbacks for the big-box retailer.

  • Target’s Chief Operating Officer sees more growth opportunities in New York despite the closures.

  • Target will report its fiscal third-quarter earnings and update investors on its sales trends and future plans.

  • 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.

  • Some other retailers, such as Nordstrom and Walmart, have also closed stores in major cities.

  • Evaluating and closing stores is a routine part of Target’s operations, but winning back customers and achieving growth remains a challenge.

  • Target’s performance has been affected by the pandemic spending boom and the challenges of the post-pandemic period.