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Target closes 24 Minnesota stores amid looting

Minneapolis stores are taking precautions and shutting down to prevent further looting during protests. FOX Business’ Jackie DeAngelis with more.

Big-box chain Target has fallen victim to days of riots in the Twin Cities to protest the death of a black man being who was being detained by a white police officer.

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Demonstrations erupted Tuesday near the city’s 3rd Precinct station, which covers the portion of south Minneapolis where George Floyd was arrested.

Earlier this week, the confrontation between Floyd and police, caught on video that subsequently went viral, surfaced. The footage shows Floyd pleading for air as Officer Derek Chauvin presses his knee against him. As minutes pass, Floyd slowly stops talking and moving.

When the video surfaced, demonstrators took to the streets. What followed was the total destruction and ransacking of Target stores. Amid the unrest, Target decided to initially close dozens of locations in the area.

TickerSecurityLastChangeChange %
TGTTARGET CORP.122.33+3.90+3.29%

TARGET, CVS SHUT MINNEAPOLIS STORES AFTER RIOTERS RAVAGE RETAILERS

Videos showcasing a stampede of rioters breaking into one of its stores, taking what they could and rushing out, quickly took the internet by storm. Now, stores within the Twin Cities, otherwise seen as Target's hometown, are now scattered with shards of glass and what appear to be nearly empty shelves.

A looter uses a claw hammer as he tries to break into a cash register at a Target store in Minneapolis. (Richard Tsong-Taatarii/Star Tribune via AP)

Although Target has locations in all 50 states and in the District of Columbia, it's been headquartered in Minneapolis, Minnesota, since the 1960s.

Target's first store, then called The Dayton Company, opened in Minneapolis back in 1962. Now, for well over 50 years, the company bills itself as "a staple of the downtown Minneapolis business community."

According to Target's history web page, the company has also become one of the downtown's largest employers. Although the company would not specify how many of its employees work within the Twin Cities specifically, the company has hired over 350,000 team members who assist operations at nearly 1,900 stores around the nation.

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The company also touted that it's a "consistent supporter" of the community. Just last year, the company allocated approximately $28 million in cash grants and product donations in the Twin Cities where its employees served 262,000 hours of community service, according to Target.

The corporation also supported various projects within the area such as the establishment of the Minneapolis Central Library, the new Vikings NFL stadium downtown and the revitalization of the Nicollet Mall, Target said.

Despite its commitment to the area, the retailer was not spared during the unrest.

People break into a Target store while protesters hold a rally for George Floyd in Minneapolis on Wednesday, May 27, 2020. (Aaron Lavinsky/Star Tribune via AP)

The riots come as a second blow to the retailer, which drastically shifted operations earlier this year in response to the changing needs of customers amid the COVID-19 pandemic.

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Although the company saw an uptick in sales due to customers stocking up on essentials during the widespread stay-at-home orders, its higher operating costs wiped out any bottom-line gains.

In fact, the company's profit throughout the first three months of the year dropped 64 percent year-over-year to $284 million.

As of Friday afternoon, nine Target locations in the area remain closed.

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