•   
  •   

Money Target to close dozens of stores in 'boutique' shift

20:52  07 june  2018
20:52  07 june  2018 Source:   smh.com.au

Coles to splash billions on facelift to fight back against Woolworths

  Coles to splash billions on facelift to fight back against Woolworths Coles will spend close to a billion dollars next year sprucing up its stores in an attempt to win back ground lost to Woolworths.Coles will spend close to a billion dollars next year sprucing up its stores in an attempt to win back ground lost to Woolworths, as it heads towards life as an independent company.

Some Target stores would be converted to the more profitable Kmart brand where it made sense, Mr Russo said. Kmart would continue to open eight to Already it is wholesaling its private-brand products to Robinson department stores in Thailand and Indonesia, which Kmart's boss, Ian Bailey, said was a

Some Target stores would be converted to the more profitable Kmart brand where it made sense, Mr Russo said. Kmart would continue to open eight to Already it is wholesaling its private-brand products to Robinson department stores in Thailand and Indonesia, which Kmart's boss, Ian Bailey, said was a

Target has been a problem child for the Wesfarmers retail conglomerate.© Bloomberg Target has been a problem child for the Wesfarmers retail conglomerate. Target will close dozens of stores in an effort to reduce its footprint by 20 per cent over the next five years and create a "boutique" fashion chain competing with fast-fashion giants H&M and Uniqlo.

The brand, which has 305 stores across Australia, has been a problem child for the Wesfarmers retail conglomerate and the ugly sister to the group's department store powerhouse, Kmart.

Wesfarmers' CEO of department stores, Guy Russo, said that having stabilised Target's earnings and reset its cost base, after it ran at a $195 million loss in 2016, the group would further improve profitability by closing underperforming stores when their leases expired.

Why Target is shrinking to take on H&M, Zara and Uniqlo

  Why Target is shrinking to take on H&M, Zara and Uniqlo Forget Big W and Kmart, discount department store Target wants to take the fight to international fast-fashion giants H&M, Zara and Uniqlo.Outlining a plan to revitalise the struggling retail chain on Thursday, Wesfarmers department stores chief executive Guy Russo said he’s no longer talking to the Target team about sister brand Kmart and Big W as their key competitors.

Struggling discount chain Target has announced it will close 20 per cent of stores in the next five years. Instead it will create a “ boutique ” fashion chain competing with fast-fashion giants H&M, Uniqlo and Zara, shifting away from its traditional market position as a rival to Kmart and Big W.

SAN ANTONIO -- Target will close a dozen stores next year, including one in San Antonio, and Nutella was caught secretly changing its recipe. Goodwill Goes High-End, Opens Dozens Of Upscale ‘ Boutique ’ Locations. Talarico said the shift in the popular thrift shop was made to compete with.

“We’re not going to go after size any more, and we’ll just be a nice new boutique retailer that plays in mid-tier, and I’d like to make sure it's a profitable mid-tier business," Mr Russo said at a Wesfarmers investor briefing day on Thursday.

Mr Russo said Target was continuing its shift away from its traditional market position as a rival to Kmart and Big W to a more fashionable brand in the mould of foreign fast-fashion giants H&M, Uniqlo and Zara.

“They’ve stopped their growth [in Australia] but they’re enough for my team to be inspired around fashion, quality and their fabrics," he said.

He said he had given his design teams a mandate to improve quality and style, while dropping prices compared to the fast-fashion competitors.

Jobs in doubt as WA retailer goes under

  Jobs in doubt as WA retailer goes under Western Australian electronics retailer Kambos has gone into administration, with all three of its Perth stores closing immediately. Administrators Hall Chadwick have confirmed they are handing the company’s finances.The move could leave more than 120 workers without a job.9NEWS understands the company owes creditors more than $1 million.Kambos’ Malaga store, in the city’s north, was shuttered this morning with a sign telling shoppers it was “closed for stocktake”.Customers said they  were surprised to find it closed.All of the company’s websites and social media pages have also been taken down.

The 12 Target stores will close on Feb. 3 of next year. In a move toward growth, Target has decided to close stores , and a dozen of them at that.

Target to close dozens of stores in ' boutique ' shift squib. by The Sydney Morning Herald 6 days ago. The chain wants to become smaller and more fashionable to take on H&M, Uniqlo and Zara.

He said "mid-tier" shoppers made up the biggest part of the $83 billion a year apparel, homewares and children's goods markets that it played in, which was why Target could do well while higher-end retailers struggled.

Some Target stores would be converted to the more profitable Kmart brand where it made sense, Mr Russo said. Kmart would continue to open eight to 10 new stores a year, meaning total store numbers would remain relatively flat across the two brands.

Wesfarmers' department stores had total sales of $8.5 billion and wanted to grow that to $10 billion by tapping into offshore opportunities.

Already it is wholesaling its private-brand products to Robinson department stores in Thailand and Indonesia, which Kmart's boss, Ian Bailey, said was a learning exercise for targeting growth markets overseas.

“If you think about us as a product company then it’s the obvious thing to do - it'd be almost crazy not to," he said. “How big is the prize? Well the world’s enormous. I think there’s potential in the long run."

How Australian KFC stores are refusing to sell bacon in their burgers - because they only use HALAL products .
KFC has refused to sell bacon at a number of stores across Australia to keep in line with other Halal certified products.A customer revealed the rule after contacting the fast food company about the lack of bacon offered at a store in Punchbowl, in Sydney's west.

—   Share news in the SOC. Networks

Topical videos:

This is interesting!