TARGET TO MAKE WAY FOR KMART
THE Target store at Goldfields Plaza will be converted into a Kmart hub, a Target spokesman confirmed late yesterday.
Up to 75 Target stores across Australia will close forever and a further 92, Gympie included, will be converted into Kmarts.
Parent company Wesfarmers made the shock announcement yesterday.
Many Target fans are in mourning Wesfarmers announced up to 167 stores would disappear over the next year.
Up to 75 Targets will close and 92 will become Kmarts – also owned by Wesfarmers.
The discount store chain has been struggling.
“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,” chief executive Rob Scott said.
A Target spokeswoman said the decision had been a difficult one.
“The decision to transform the Target store network, and particularly the very difficult decision to close stores, is not one that is made lightly, but one that is necessary to improve the commercial viability of the business and to support the thousands of people we employ,” she said.
“Our number one priority is talking to and supporting our teams. The majority of these changes will occur next year, and we are committed to looking for redeployment opportunities for affected team members in Kmart, Catch and other Wesfarmers businesses, including guaranteeing job offers to all Target team members in converted stores.
“Our team, customers and communities have always been at the heart of everything we do – and that doesn’t change today.”