People who are being employed in those stores are losing their jobs” because of crime, New York City Mayor Eric Adams, a Democrat, said in February. Walgreens said it saw a spike in losses, known as shrink, during the pandemic and cited organized retail crime in its decision to close five San Francisco stores in 2021. San Francisco, Los Angeles, San Diego, New York City, Seattle, Miami and Chicago lost retail stores from the beginning of 2017 to the end of 2021, according to research from the JPMorgan Chase Institute, a think tank. San Francisco lost around 6% of its retail establishments from 2019 to 2021, according to the think tank’s research. For example, chain-store closures in New York City have correlated to the products most frequently bought online.

Source: CNN May 12, 2023 12:29 UTC