joy to be former vice chairman of target gerald storch act with us.k you very much for being here this is increasingly a major problem. now the companies are calling it shrink, the loss of inventory because of all the theft. how do you see things. >> it is terrible in accelerating. we worked so hard with every retailer i've been not to put the stores in the difficult trade areas. it's critical for the community, they provide food, access to pharmacies and it's important service otherwise all that is left is mom-and-pop shops that charge too much and then you have people coming and rob them and make it so bad that you have to close the stores. i've seen some people say the insurance covers it, they don't have to close the stores they just wouldn't be there. trust me when target is closing stores, when walmart closed doors in chicago would nordstrom closed a major store in san francisco, they are doing it because of losing so much money and their employees are at a personal risk that they have no choice. maria: is any way to track the items being stolen

look who was here the retail man gerald storch, he knows anything on this planet. shrinkage. retailers are leaving the city's creating food and grocery deserts urban areas and losing big time, i decline nothing retailers can do about it. >> people have to accept this is not victimless petty crime and we need to go after it, this is violent organized crime violence and the threat of violence, store employees to customers and the consequences go far beyond the value of what stolen not like they stole bread or lipstick they close and it destroys the communities that they were in and it cost the retailers tens of millions of dollars when a flagship at nordstrom's closes in san francisco. it's not petty crime and is organized. stuart: again the short term there's nothing you can do about it you could try to organize a security of some sort but this is a losing issue $112 billion after shrinkage last year. what retailers are doing our closing stores in locations where they can't make any money. people say it's not that bad it's no big deal the retailers can absorb it tha