What Insurance Means for Retailers Impacted by Riots: Cramer

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Over the weekend, there were protests in cities from coast to coast.

The protests were sparked by the death of George Floyd, who was killed after Minneapolis police officer Derek Chauvin knelt on Floyd's neck for over eight minutes.

Chauvin, on Friday, was taken into custody and charged with third-degree murder and manslaughter.

The protests and the riots caused some businesses to close early.

Target said late Saturday night that it would temporarily close 175 of its locations across the U.S. after its stores in Minneapolis and other locations including Los Angeles were seen being damaged and looted on live television.

“We are a community in pain. That pain is not unique to the Twin Cities—it extends across America. And as a team, we’ve vowed to face pain with a purpose,” Target CEO Brian Cornell said in a note published on Twitter.

On Friday, Walmart put out a memo from CEO Doug McMillion to employees.

"At a time when our response to the COVID-19 crisis has brought out the best in us, what took place earlier this week is further proof we must remain vigilant in standing together against racism and discrimination. Doing so is not only at the heart of the values of our company, it’s at the core of the most basic principles of human rights, dignity and justice," wrote McMillon. "As we continue to monitor the situations unfolding across Minneapolis, we will keep our focus on prioritizing the safety of our associates and customers."

Jim Cramer said that, "the cynic in me says that if they have insurance then they can collect the money."

You can follow Jim Cramer and Katherine Ross on Twitter at @JimCramer and @byKatherineRoss. Read more from Katherine Ross here.

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