Target CEO Brian Cornell warned Wednesday that its stores continued to get hit by retail crime, which the company expects to result in losses of more than $500 million this year.
Target said it "engaged in a variety of mitigation efforts which begin with significant resource investments to protect our team and our guests." The company is also installing fixtures to protect merchandise and adjusting its assortment in affected stores.
While it continues to "contend with significant headwinds caused by inventory shrink," Cornell said the company is still focused onHe noted how critical these locations are saying they "create jobs, serve local shoppers, and act as critical hubs in communities across the country."
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