UPDATED

UPDATE | Target at Miranda and Roselands unaffected by huge restructure - but review continues

Target store at Westfield Miranda.
Target store at Westfield Miranda.

Update

Target stores at Miranda and Roselands have escaped the massive restructure announced on Friday - but their future remains uncertain.

Wesfarmers revealed up to 75 Target stores will be closed and another 92 converted to Kmart outlets. The company owns both brands.

On Friday night, Wesfarmers gave details of the affected stores, and the Miranda and Roselands outlets were not included.

However, the company said, "The network will continue to be reviewed on an ongoing basis to support our transition to a smaller, more focused and more optimised business".

"Importantly, our online business will still be available 24 hours a day. Well be increasing our digital capabilities, so that we can continue to meet growing demand in this space."

Earlier

Up to 75 Target stores will be closed and another 92 converted to Kmart outlets.

Wesfarmers, which owns both brands, announced the huge restructure on Friday.

The locations of the stores to be closed and those to be converted were not given.

There are large Target stores at Westfield Miranda and Roselands.

"Following the completion of the first phase of the Target review, Kmart Group had identified a number of actions to accelerate the growth of Kmart and address the unsustainable financial performance of Target," the company said.

"These actions include the conversion of suitable Target and Target Country stores to Kmart stores, the closure of between 10 to 25 large format Target stores, the closure of the remaining 50 small format Target Country stores, and a significant restructuring of the Target store support office.

"Wesfarmers is continuing its assessment of strategic options for a commercially viable Target and its remaining store network."

The company said the actions were expected to be implemented over the next 12 months ,with the majority occurring in the 2021 calendar year.

"The conversion of suitable stores to Kmart will address gaps in the Kmart network."

Wesfarmers managing director Rob Scott said these actions and further investment in Kmart would enhance the overall position of the Kmart Group, while also improving the commercial viability of Target.

"For some time now, the retail sector has seen significant structural change and disruption, and we expect this trend to continue. 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.

"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."

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