Target plans to crack down on retail theft by lowering the threshold for how much shoplifters can swipe before employees are allowed to finally step in, according to a report.
The Minnesota-based big box retail chain — which has blamed retail theft for hurting its bottom line — instructed store staff to halt bandits who try to flee with items totaling $50, down from the previous sum of $100, Bloomberg News reported Thursday.
“Our priority remains ensuring the safety of the team and guests, while maintaining the positive experience Target shoppers expect,” a Target spokesperson told Bloomberg News.
The Post has sought comment from Target.
The new policy will reportedly take effect later this summer.
Last fall, Target’s chief financial officer, Michael Fiddelke, told investors that the company expects shoplifting to be a “significant financial headwind.”
He made the comment just weeks after Target, which owns and operates around 2,000 stores nationwide, closed nine urban locations, including those in San Francisco, Seattle, Portland, Ore. and the Harlem section of New York City.
The Harlem location was a frequent target of organized retail theft.
“Growth in shrink remains a significant financial headwind and we’re determined to continue making progress in the years head,” Fiddelke said — using the industry term meant to connote loss of inventory due to shoplifting, vendor fraud and administrative error.
Retailers such as Target have gone to great lengths to try to curb retail theft, including hiring more security guards as well as locking up everyday items such as toothpaste, deodorant and shampoo behind glass encasing.
Businesses and law enforcement officials have been critical of criminal justice reform initiatives such as California’s move to decriminalize thefts under $950 which they say has fueled a spike in the number of organized shoplifting incidents.
Republicans in the Golden State are now seeking to toughen shoplifting laws by making theft a felony — a move opposed by Democrats.
Other jurisdictions run by progressive Democrats such as New York City have also been hit with high-profile retail thefts — prompting criticism over lax laws.
On March 18, the New York Police Department released surveillance footage showing three women brazenly walk out of a Staten Island Target store with carts filled with around $1,500 worth of stolen items.
The alleged incident took place at the Target on Veterans Road West at around 1:30 p.m. Eastern time on Feb. 29.
An NYPD spokesperson told The Post that Autumn Ascencio, a 21-year-old Brooklyn resident, was arrested and charged with grand larceny in connection with the Staten Island incident.
In May, a Bay Area woman was convicted for using the self-checkout lane at a San Francisco target to steal over $60,000 worth of merchandise spread across 100 visits to the retail store.
Earlier this year, Target announced that it would limit the number of items that shoppers can pay for at self-checkout counters.
Dollar General said it would be doing away with self-checkout counters at 300 of its stores that were particularly hit hard by “shrink” — as did another big box retailer, Walmart.
Dollar General said it would also convert some of its self-checkout counters to regular cashier checkouts in 9,000 other locations.
Last month, Target reported less-than-stellar profits in the most recent quarter — the result of inflation-weary customers pulling back on discretionary spending.
The company announced that it would slash prices on thousands of items in hopes of enticing customers back to its stores.