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Target has abandoned plans to open a new store that is currently under construction in a Philadelphia neighborhood, just one month after announcing the closure of nine other stores across the country due to ongoing retail theft.
The new store was set to open in the city’s University City neighborhood near the University of Pennsylvania campus on 37th and Chestnut streets, FOX29 Philadelphia reported.
Target did not provide a specific reason for scrapping the plans in statements to local news outlets.
“We routinely assess our current projects and have made the decision to no longer pursue a store in this location,” Target spokesperson Jim Joice told the Philly Voice.
TARGET POINTS TO RETAIL CRIME AS REASON AS COMPANY SET TO SHUTTER 9 STORES
Target has reportedly scrapped plans to open a new store in Philadelphia’s University City neighborhood. The retail giant did not provide a specific reason as to why in statements to local news outlets. (Bing Guan/Bloomberg via Getty Images / Getty Images)
Fox News Digital reached out to Target for comment but did not immediately hear back.
In September, Target announced that a total of nine stores across four states were shuttering due to ongoing theft and organized retail crime. (Scott Olson/Getty Images / Getty Images)
Earlier this year, Target shut down a store location in Center City due to underperformance. The retailer still has 10 stores in Philadelphia and about 50 throughout the greater metropolitan area, according to the newspaper.
OVER 500 TARGET EMPLOYEES AFFECTED BY NEW YORK, SEATTLE, OREGON CLOSURES
The decision on the new store comes after the retail giant announced in September that a total of nine stores would be closed in New York City; Seattle; San Francisco; Oakland, California; Pittsburgh; and Portland, Oregon.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TGT | TARGET CORP. | 112.86 | +1.79 | +1.61% |
Target had cited theft and organized retail crime as factors in its decision to close those stores.
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More than 500 Target employees were impacted by the crime-related store closures in New York, Seattle and Oregon.
