No. of Recommendations: 11
bighairymike:
There are lots of businesses, big and small, that are closing... CVS, In and Out, Target...Simply have a look at new business applications filed from 2022 to 2023:
Illinois -- +12%
New York -- +8.1%
Iowa -- +33.7%
New Mexico -- +20.4%
Maine -- +26.8%
Kentucky -- +20%
Washington -- +6.8%
Target, you cry? More nonsense:
Take Target’s first-ever Manhattan location, in East Harlem. With more than 100,000 square feet of selling space, the location opened more than a decade ago — long before the retailer figured out that to be profitable in big cities, it had to veer from its big-box playbook and build smaller footprints. Now, the store in a six-story shopping center is preparing to shut down.
Instead of abandoning Harlem, Target has already signed a lease to open a store less than half the size only a mile and a half away.
The closing is a “business decision to move to small-format stores.”
Target determined that a 100,000 square foot retail space was a bad business decision for today's retail marketplace and blamed theft, safety while moving right down the street to a much small footprint location. In-N-Out closed
one store.
No one is disputing that there are neighborhoods that are dealing with increases in theft, robbery, and car jackings but the suggestion that this is some national trend sweeping America is complete nonsense unsupported by facts or statistics.
uschamber.com - New business applications a state by state viewbloomberg.com - Target tgt store closures over crime raise questions among landlords 