Walmart, Target forced to close stores amid rampant retail theft in the US

It is learned that according to foreign media reports, theft in offline stores in the United States has become more rampant, causing losses of millions of dollars, causing large retailers across the country to worry. Some large supermarkets such as Walmart, Target, and Costco have been forced to close stores.

A few weeks ago, Walmart announced the closure of its last two stores in Portland, and recently announced that it would close four Walmart stores in Chicago.

As reports of store theft soar, other retailers including Target, Macy's and Best Buy have said they will close stores if crime numbers don't drop.

According to the 2022 National Retail Security Survey, retailers lost a total of $94.5 billion in theft and other types of inventory losses in 2021, and organized retail crime cases soared 26.5% in the same year. In addition to blatant theft during the day, self-service checkout systems also give thieves more opportunities.

Prosecutors in Chicago, New York, Portland, California and other regions have also been accused of going easy on arranged thefts, such as not prosecuting thefts under $950 or giving criminals only light sentences.

Several retailers have been forced to close stores due to rampant theft:

Walmart

Walmart has decided to close 17 stores in nine states.

Half of Chicago's locations were closed, with most of the discontinued branches located in crime-ridden South and West Side areas. These branches lost tens of millions of dollars each year and had not been profitable for years.

In recent years, Walmart has closed several stores every year, citing "poor performance" as the reason.

Target

Target revealed it lost $400 million in profits in November last year due to organized shoplifting rings. Target's chief financial officer said the company expects losses from retail theft to reach $600 million by the end of the year, and the company announced it would close four stores in three cities in the coming months.

Macy's

Macy's will close four stores in the first quarter of 2023, including locations in California, Colorado, Hawaii, and Maryland. The closures are part of the company's plan to close 125 locations within three years.

Editor✎ Ashley/

Disclaimer: This article is copyrighted and may not be reproduced without permission.