Citing Crime, In-N-Out announces closure of Oakland location

[W_HAMILTON]

29. Maybe, but there is enough evidence both macro and micro that the narrative is bullshit.

From a macro perspective:

Retail theft has caught the attention of the masses in recent years, from startling smash-and-grab videos during the depths of the Covid pandemic to corporate earnings calls where retailers like Target and Foot Locker are discussing losses from organized retail crime more than they ever have.

But the effect of theft on retailers’ bottom lines is about the same as it has been for years, according to the latest data released Tuesday in the widely used industry survey conducted by the National Retail Federation.

Taken from: https://www.cnbc.com/2023/09/26/organized-retail-crime-and-theft-not-increasing-much-nrf-study-finds.html

And from a micro perspective, a big company (Target) caught in a lie:

On Sept. 26, Target set off a national firestorm when it said it would close nine stores in four states because theft and organized retail crime had made them too dangerous to run.

On its face, Target’s announcement was evidence that retail crime was preventing one of the country’s most prominent retailers from operating stores profitably and safely. It challenged skeptics who believed that retailers had exaggerated the impact of organized retail crime and used it as an excuse for poor financial performance.

There was just one problem with the explanation Target gave for closing stores: The locations it shuttered generally saw fewer reported crimes than others it chose to keep open nearby, a monthslong CNBC investigation has found.

Taken from: https://www.cnbc.com/2023/12/19/target-store-closures-theft-and-crime-higher-nearby.html