Target and Kmart will remain separate consumer-facing brands with no impact on floor staff and only a “handful of redundancies”.
The businesses will convert to a single IT system to improve returns.Wesfarmers’ Target is being folded into its discount stablemate Kmart, creating a singular $10 billion business with the aim of boosting returns as value offerings become more desirable to shoppers battling the rising cost of living.
Kmart Group MD Ian Bailey is creating one business with two consumer-facing brands: Target and Kmart.“I see value being really front and centre for a long time,” he said. “What we’re seeing is when we can consistently hit good products at great prices, then there’s plenty of demand out there.”has suffered multiple profit warnings with fewer shoppers passing through its doors, as has Domino’s Pizza, suggesting Australians in low income brackets are cutting back spending.
Mr Bailey said Target and Kmart would remain separate consumer-facing brands with no impact on retail floor staff and only a “handful of redundancies”, mostly in technology and merchandise, noting all changes would occur on the back end of the business.The Australian Financial Review.“Kmart and Target are both strong businesses. I don’t see us doing this from a position of weakness. It’s quite the opposite.
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