About half of all Target stores throughout the nation will both close or be transformed into Kmart stores in the subsequent yr.
In all, as much as 167 of 284 stores throughout Australia will both shut or convert, after a overview discovered monetary efficiency unsustainable at the troubled Target enterprise.
There will even be a big discount in Target’s store assist workplace, with a discount of about 1,000 to 1,300 roles anticipated.
“For some time now, the retail sector has seen significant structural change and disruption, and we expect this trend to continue,” Wesfarmers Managing Director Rob Scott stated on Friday.
Watch the video under: Wesfarmers declares restructuring of Target community
“With the exception of Target, Wesfarmers’ retail businesses are well-positioned to respond to the changes in consumer behaviour and competition associated with this disruption.”
The firm says it will convert 10 to 40 Target stores and 52 Country Target stores in regional areas to Kmart stores.
It will additionally close 10 to 25 giant stores and 50 small Target Country stores.
In all, between 122 and 167 areas will both be transformed or shut.
“The actions announced reflect our continued focus on investing in Kmart, a business with a compelling customer offer and strong competitive advantages, while also improving the viability of Target by addressing some of its structural challenges by simplifying the business model,” Scott stated.
These are the stores that will close:
- Salamander Bay
- Wagga Wagga
- Bacchus Marsh
- Casino Retail Centre
- Clifton Beach
- Kippa Ring
- Margaret River
- Meadow Springs
- Port Lincoln
These are the stores that will be transformed into Kmart:
- Windsor Town S/C
- Lakes Entrance
- Charters Towers
- Noosa Junction
- Ocean Shores Village Centre
- Port Douglas
- Murray Bridge
- Port Augusta
- Victor Harbor
“We understand these closures will affect a lot of people in the Target community and we appreciate your patience and understanding during these challenging times,” Target stated in a message to prospects.
“We are dedicated to offering each alternative for redeployment for our workforce members who will be affected by these modifications.
“We are proud to have a wealthy historical past as an Australian firm and we are dedicated to serving you, our valued prospects, now and into the future. “
The modifications to Target stores will principally occur in 2021.