The saying goes “everything that goes woke goes broke”.
Target has officially closed its Washington Square stores that sits in the Center of Philadelphia.
A spokesperson for the store stated the store is closing due to poor performance.
Besides Target, WaWa has also pulled stores from the City of Philadelphia due to its high crime rate.
Target Shutters Downtown Philly Location Citing "Declining Performance" https://t.co/WHdtLdUi4j
— zerohedge (@zerohedge) March 17, 2023
Check out what Zero Hedge had to share:
Not unlike many other corporations with retail locations in cities nationwide, Target is calling it quits on Philadelphia. They follow in the footsteps of Wawa, who we noted last year had enough of Philadelphia’s crime and also picked up and left shop at several locations in Center City.
Target, located just blocks from one Wawa that recently closed, is taking the same action, according to the Philadelphia Business Journal. Its store at 12th and Chestnut streets in Center City will be closing after 7 years of operation.
The 19,000 sq. foot store is going to be closing “due to several years of declining performance”, the report says. The company plans on attempting to relocate its 45 part and full time employees at the store.
One of America's largest and most popular retailers is officially shutting down one of its Philadelphia locations. https://t.co/9dzTqCadxV
— FOX 29 (@FOX29philly) March 14, 2023
ABC 6 News had these details to report:
Target is closing its Washington Square store in Center City Philadelphia.
The store on the 1100 block of Chestnut Street will close for good on May 13.
A Target spokesperson says they’re taking the action after multiple years of working to improve performance.
“To the guests who shopped with us at Washington Square, we appreciate you shopping with us and hope you’ll continue to visit us at another location close to you or via Target.com and the Target app,” the spokesperson said in a statement.
“I’m shocked. I’m disappointed because my feet are here often. I live within the block. I’m here all the time,” said Kristen Everett.
That’s not good for the neighborhood and I don’t know why they would close when Jefferson is opening,” said Fred Kogan. “I’m bummed.”
The shutdown follows the closure of several other high-profile stores in the area, including Wawa. It has some residents concerned about the state of shopping in their neighborhood.
Target Shutters Downtown Philly Location Citing "Declining Performance"https://t.co/fLb8RAVcGT
— Steve Culy, Banana Republic Maquisard 🍌🔧 (@charcware) March 17, 2023
Target as a franchise last year lost over a half billion dollars due to theft.
Target blames criminal networks for up to $600M in lost profits https://t.co/h4dEOVU8Ko
— NEWS MAKER (@NEWS_MAKER) November 18, 2022
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!