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

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

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  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.

In a move toward growth, Target has decided to close stores , and a dozen of them at that. The Minneapolis-based Star Tribune first reported on the news Tuesday afternoon. "We have a rigorous process in place to evaluate the performance of every store on an annual basis

SAN ANTONIO -- Target will close a dozen stores next year, including one in San Antonio, and Nutella was caught secretly changing its recipe. It’s all in today’s Jane King Report. Target closing storesTarget will close its store in East San Antonio next yea.

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

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I stood in line at Target to check out. Dozens of people in front of me and I am wishing now I would have taken a picture. I would think that after about 3-5 years into this shifting of how business is done, you would have shifted Develop a customer experience that boutique stores are known for.

Dozens of shops around the UK could close and it may also cut back on its clothing range. He is under pressure to turn M&S around after it has struggled to shift women's fashion. Sainsbury's to FINALLY let you pay by contactless card in its stores . Misery at the pumps.

“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

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Now, Target just announced that they’re closing dozens of stores . From Breitbart. Retail giant Target has been struggling for well over a year since its decision to allow transgender men to use bathrooms and changing rooms designated for women.

Sam's Club closings dozens of U.S. stores , including some in NY, NJ, CT. An official said at least eight stores closed Thursday and the rest would shutter in the coming weeks. Police: Sniper targeting mosque with BB gun.

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.

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