It’s the latest move related to theft for Target, which has been outspoken about the industrywide problem of organized retail crime.
. He added shrink overall is expected to reduce Target's full-year profitability by more than $500 million compared to the year-ago period.
"We do not want to close stores. We know how important our stores are. They create local jobs, they generate taxes, they're very important for those local shoppers, and they play a critical role in communities across the country," Cornell said on a call with reporters in May. The retail executive's comments led other companies to speak out on the problem, too, and to advocate for legislative reform. Following the passage of the Inform Act, which requires online marketplaces to disclose the identities of certain high-volume sellers to, retailers and trade associations are now pushing for the passage of another bill called the Combating Organized Retail Crime Act.
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