News

Target announces which stores will close

By Morgan Dyer

Shepparton’s Target store will be one of the few left across Australia that will not close, as retail giant Wesfarmers announced they would close and convert more than 100 stores across the country this morning.

Although the Shepparton store survived the cuts, Target's Echuca, Cobram, Kyabram and Seymour stores will be one of 40 Target and 52 Target Country outlets to be converted into new Kmart stores.

Benalla’s Target store however will be one of up to 75 stores who will close their doors.

Wesfarmers managing director Rob Scott said the closure and restructures of the outlets would accelerate the growth of Kmart and address the unsustainable financial performance of Target.

“For some time now, the retail sector has seen significant structural change and disruption, and we expect this trend to continue,” Mr Scott said.

“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,” Mr Scott said.

Target’s Echuca, Cobram and Seymour stores will be one of the first stores in Australia who will begin the conversion process, with works starting in July.

The Seymour store will begin its makeover in September, while the Benalla store will end its reign mid next year.

Wesfarmers said employees working in the converted stores will receive an offer of employment at the new Kmart stores and team members affected by store closures will be given consideration for new roles in growing businesses Kmart and Catch.

Wesfarmers has also established a working group to identify redeployment opportunities to take up jobs in Bunnings and Officeworks.

Employees who are unable to be redeployed will be provided with access to support services along with all entitlements.

It's believed employees across all Target stores were notified of the changes this afternoon.

For more information visit www.target.com.au/businessupdate