Target's sales bounced back after closing crime-prone stores — and other chains could do the same
TGTTarget(TGT) New York Post·2024-08-24 04:26

Target’s sales and customer traffic bounced back this week after it closed crime-afflicted stores – suggesting more retailers may begin shuttering locations over shoplifting, sources told The Post.The “cheap chic” discounter posted earnings and revenue that beat Wall Street’s forecasts on Wednesday as markdowns lured inflation-weary shoppers. But Target COO Michael Fiddelke also cited a decrease in “inventory shrink” – or losses from shoplifting – for the company’s rebound. Target said it was making “progre ...