Target Says Organized Retail Theft Contributed To $400 Million Loss

Target CEO Brian Cornell remarked in an earnings call that organized criminal behavior has negatively impacted earnings and required new levels of security spending. “Along with other retailers, we’ve seen a significant increase in theft and organized retail crime across our business,” he said.

“As a result, we’re making significant investments in training and technology that can deter theft and keep our guests and store team members safe.”

As many as 81.2 percent of retailers said that the “violence and aggression” associated with organized retail crime increased in the past year, according to a survey from the National Retail Federation.