{"id":519,"date":"2019-08-29T00:00:00","date_gmt":"2019-08-28T14:00:00","guid":{"rendered":"https:\/\/cms.star1045.com.au\/uncategorized\/target-announce-store-closures-sales-fall\/"},"modified":"2019-08-29T00:00:00","modified_gmt":"2019-08-28T14:00:00","slug":"target-announce-store-closures-sales-fall","status":"publish","type":"post","link":"https:\/\/cms.star1045.com.au\/lifestyle\/target-announce-store-closures-sales-fall\/","title":{"rendered":"Target announce store closures as sales fall"},"content":{"rendered":"

<\/p>\n

The stores could be closing within months.\u00a0<\/strong><\/em><\/p>\n

Target has announced store closures across the country as sales continue to fall.<\/p>\n

The 2019 end of financial year reports showed that Target\u2019s total sales were down 1.5% with the lifestyle, entertainment and beauty departments experiencing the lowest sales across the departments. \u00a0<\/p>\n

The drop-in sales prompted Wesfarmers CEO Rob Scott to announce that stores were set to close across Australia in the coming months.<\/p>\n

\u201cUltimately, it will be most likely a smaller business over time as we reduce the size of the network and focus more in quality over quantity,\u201d Scott revealed to the Sydney Morning Herald.<\/p>\n

He also indicated that the brand would shift towards a digital focus with increased online purchasing options such as click-and-collect.<\/p>\n

\u201cI think over time, we\u2019ll see e-commerce sales represent a very significant proportion of Target\u2019s total sales,\u201d he stated.<\/p>\n

<\/p>\n

The specific stores closing are yet to be announced with a Target spokeperson telling Yahoo Finance that each store would be assessed individually based on sales and location. The brand currently has 293 stores across the country and employs over 16,000 people.<\/p>\n

The news of the closures comes just weeks after the department store chain announced it was cutting 80 workers from its head office.<\/p>\n

\u00a0<\/p>\n

SEE ALSO:<\/strong>\u00a0Rumours of Caramilk returning to Aussie shelves\u00a0<\/a><\/p>\n

\u00a0<\/p>\n

Written by Kate Stevens<\/p>\n

Images: Getty<\/p>","protected":false},"excerpt":{"rendered":"

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