The former vice chairman of Target spoke out against spiraling theft nationwide as the popular retailer announced it would close its doors in a series of liberal cities amid public safety concerns.
Gerald Storch reacted to the news during "FOX & Friends," saying the announcement makes him "want to cry" as the "acceleration in crime" continues to impact giant retailers across the country.
"It just makes you want to cry because we have worked so hard to get stores into markets like this," Storch told Steve Doocy Wednesday. "Every company I've ever worked at we worked so hard because it's good for the community to have stores that can offer products with great value in these environments. We know it's going to be tough, but it's good for business, and it's good for the community. What's going on right now, though, is an acceleration in crime."
Target announced Tuesday it would close nine stores across San Francisco, Oakland, Seattle, New York City and Portland.
"We cannot continue operating these stores because theft and organized retail crime are threatening the safety of our team and guests, and contributing to unsustainable business performance," the company said in a statement.
Storch noted that retail theft has "gone through the roof" because of social media and the internet.
"Why is the internet a bad thing? Usually, it's a good thing. First of all, it helps all the gangs organize. So they get together through social media and say, 'show up here now and let's do it together.' Secondly, the marketplace on the internet is the ultimate fencing operation. It's like a flea market on steroids for getting rid of the product. So anything you steal, you can monetize it really fast on the internet," he explained, adding that there is a "sophistication" to the organized criminal operations.
A U.S. Marshal is pictured on the scene of a reported shooting at a Target store in Omaha, Neb., on Tuesday, Jan. 31, 2023. Omaha Police Chief Todd R. Schmaderer says city police confronted and shot a man with an assault rifle. (Chris Machian/Omaha W (Chris Machian/Omaha World-Herald via AP) / AP Newsroom)
"It's not… just simple, like people do locally, just steal stuff, post it on the internet, get the money. Sometimes it's many, many layers of distribution before it even gets anywhere near a marketplace, and by the last layer could be a legitimate business person who's buying this from some guy with a warehouse.
"You can say they should know it's stolen. I would know it's stolen," he continued. "If someone's offering stuff for cheaper than the vendor can offer it for, but they buy it there and they're legitimate business people. They're the last leg, so it's really tough to pin it down. That's what the problem is."
Target's major announcement came as retailers in Philadelphia were reeling from an alleged teen mob that ransacked several stores in a widespread looting operation.
At about 8 p.m. Tuesday, police responded to reports of large crowds of juveniles allegedly looting stores in the Center City business corridor of the 9th District. They targeted popular retailers like the Apple Store, Lululemon and Footlocker.
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Police confirmed between 15 and 20 people were arrested during the looting and at least two firearms were recovered.
"Ultimately, it comes down to… really good police work," Storch said. "When I say police work, and this is one thing retailers are behind, it's really national work. Going after these organized crime rings and trying to tear them apart the way you used to do the mafia or someone like that, because that's where the volume really lies. You can go after it and get it."
Storch argued the monetary component of theft is driving criminals to continue the acts since they believe they can "get away with it."
"Criminals are just like anyone else," he said. "They're economic entities. And so when they do the math, it says, I can do this and get away with it. I'm going to do it."
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