Target will close nine stores in New York, Seattle, Portland, and the Bay Area due to crime. CEO Brian Cornell previously said retail theft is driving $1.2 billion in missing inventory this year. AdvertisementAdvertisementTarget will close nine locations in four metro areas as a result of "unsustainable" levels of organized retail crime, the company said Tuesday. AdvertisementAdvertisementCornell also said theft incidents at Target stores with "violence or threats of violence" have more than doubled since January. Employees at the affected stores will be offered positions at other Target locations, the statement said.

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Persons: Brian Cornell, —, Cornell Organizations: Service, San Francisco Bay Area, Broadway, Portland Washington Locations: New York, Seattle, Portland, San Francisco Bay, Folsom, San Francisco, California, Folsom St, Oakland, Pittsburg, York, Harlem , New York City Oregon, Morrison St, Powell, Halsey St, Market St, Ste