Target has recently announced the closure of nine stores located in prominent cities across four different states, citing the rising concerns of theft and organized retail crime, which pose safety risks to both staff and customers, making sustained business operations challenging.

The chain is experiencing significant challenges in managing store crimes, which are adversely impacting their financial outcomes. Notably, stores situated in New York City, the San Francisco Bay area, Portland, and Seattle are facing closures, with retail theft being highlighted as a major reason behind this decision.

“We cannot continue operating these stores because theft and organized retail crime are threatening the safety of our team and guests, and contributing to unsustainable business performance,” stated Target through a press release.

Despite efforts such as reinforcing the security team, employing third-party guard services, and implementing theft-deterrent tools, the problem of crime has persisted.

The specific locations of the affected stores are as follows:

According to Target CEO Brian Cornell, this issue of retail theft has become an increasingly worsening trend over the past year. “The problem affects all of us, limiting product availability, creating a less convenient shopping experience, and putting our team and guests in harm’s way,” Cornell shared with CNBC.

In response to these challenges, Target is collaborating with the U.S. Department of Homeland Security’s Homeland Security Investigations division. They acknowledge that, despite significant investments, they can’t tackle this issue single-handedly.

While Target did not disclose details about whether the affected stores were underperforming or meeting their revenue objectives, the company noted an anticipated loss of $500 million this year attributable to elevated theft levels.