Consumer
Target Is Blaming Theft for Store Closures, But Landlords Say Otherwise
- Retailer wanted to send a message to California, landlord says
- Chain’s bet on cities would be aided by increased enforcement
Target said it’s closing nine stores in four states, including this location in Manhattan, because of theft.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
Target Corp. grabbed national headlines last week when it blamed worsening theft for its plan to shut nine stores in four states, feeding into a narrative on the deteriorating state of America’s cities.
But for some of the landlords who spent years courting the giant retailer, the closings pointed to more considerations at play.