Up to 75 Target stores will be shut with another 92 Target stores to be converted into Kmart stores in a restructure of parent company Wesfarmers’ business.
Wesfarmers said that the decision was necessary in a bid to reduce unsustainable costs in the company, with focus shifting to the comparably more-profitable Kmart brand.
About half of Australia’s Target Country stores will be shut, while between 10 and 25 large-format Target stores will also close.
The decision will leave the country with around half of the existing 284 Target stores.
Wesfarmers have also announced that they will be cutting numbers in Target’s support office.