Remember when Target blamed theft for closing stores? It's all lies.
Remember when Target blamed theft for closing stores? It's all lies.
On September 26, Target announced it was closing nine stores "because theft and organized retail crime are…contributing to unsustainable business performance." Target said that before making the decision to shutter the stores, it had "invested heavily in strategies to prevent and stop theft and orga...
Never trust the corporations excuses.
PS: I wasn't sure if this was a good fit for this community, but I couldn't think of another. Any suggestions?
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As an outsider I fail to understand why the reason to close shops is so critical. Can’t they just say « fuck it we’re done here » at any point in time? What’s the point on pinning the closure on fictional crime level?
They are generating political action on an issue that is undeserving of resources. It is also about covering bad choices so investors don't lose faith.
covering bad choices so investors doing lose faith
That's a bingo.
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My friend just wrote this article for The Needling.
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I will pass it on. She's a true gem of this forsaken town.
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After 15 years, the affliction comes and goes.
The consequence I can see it happening and being concerning. The investors thingy I don’t think it’s sound ; as an investor I would be all in for closing underperforming stores. No need to cover it for them they surely don’t give a shit beyond « money would be better invested elsewhere ».
I would agree on this point, generally businesses lie to the public for political reasons, to gin up political favor for their desired outcomes.
Most rich CEOs are out of touch and think crime just comes from "undesirables" and the only way to fix it is to massively increase police presence. In other words, they're authoritarians. This has more to do with creating a narrative about crime and intent to get political support for further instituting a police state and taking the required effort for security off the businesses. It's really about passing the bill for keeping their stores "secure" onto the taxpayer, so they can rely more on local police and on private security less.
The article in question even covers how there are already attempts to write bills targeting this problem at the Federal level. (A bipartisan bill, I might add.)
They are usually pretty honest with their investors. I would expect their investor presentations are a lot more honest, but because that's "economics news" it usually gets fewer headlines or people reporting on it. It would be interesting to contrast Target's investor calls compared to what they're saying publicly. Same with other businesses like Walgreens leaning on the same story.
They would have to spend time analyzing why they failed to make sure investors knew they wouldn't do this again. Cheaper and easier to blame the poors.
Given the amount of analytics and reporting ongoing in retail I have no doubt they have all the info at hand. And they could still directly blame the poor for the poor sales performances and call to invest in better locations. More money from investors and trust is maintained.
I don't know if you've ever been in one of these stores but they were terrible. Like if the merchandising was a complete train wreck, it would require multiple people at multiple levels to admit they fucked up. Plenty of retailers in the immediate area are doing just fine, they can't even blame the location. They just aren't setup to provide what people need if it isn't a big box store.
Not in those area. Admittedly I only visited one in the LA area while there for work and it was quite the experience already…
I don't know if you've ever been in one of these stores but they were terrible. Like if the merchandising was a complete train wreck, it would require multiple people at multiple levels to admit they fucked up. Plenty of retailers in the immediate area are doing just fine, they can't even blame the location. They just aren't setup to provide what people need if it isn't a big box store.
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The Ballard Target is such a pile of shit. I never went to the u-district one and haven't visited the City Target downtown in years.
Why the fuck go to any of them with Fred Myer just a few blocks away?
The downtown Target was literally 100 feet from Pike Place. Why would they even try to stock produce 😑
Google Maps says the downtown Target is still open.
Just a matter of time.
I'll put down 2 years.
Because the immediate thought from the plebs is "the blacks shut down my favorite store by robbing it all the time" and they go vote GOP harder so that Target gets lower corporate/wealth taxes etc.
I know this because I live in a red state and anytime the locals hear about a store closing "due to theft" a sea of slurs gets echoed at full force.
In order to keep investors basically so that they don't look like they are failing. Just shift the blame
It’s kinda like waking up late for work because you didn’t set your alarm, then telling your boss and everyone who will listen that the reason you’re late is because there was a shooting on your street.
Why would a megacorporation spread a lie that feeds into right wing propaganda?
If they told the truth, for example "The employees were trying to form a union, so we shut their store down as a warning to all the other stores." Then they could be sued.