The future of the region's Target stores remains unclear after parent company Wesfarmers on Friday morning announced a restructure plan that would see many Target outlets converted to Kmarts and others closed for good.
In a statement released to the media, Wesfarmers managing director Rob Scott the company would be looking to accelerate the growth of its Kmart Group while also addressing the "unsustainable financial performance" of Target.
Changes would include the conversion of between 10 and 40 large format Target stores to Kmarts, subject to landlord support; the conversion of about 52 Target Country stores to small format Kmart stores; the closure of between 10 and 25 large format Target stores; and the closure of the remaining 50 Target Country stores which are not suitable for conversion to Kmart.
Mr Scott said the changes would boost the opposition of its Kmart Group and improve the financial viability of Target.
"For some time now, the retail sector has seen significant structural change and disruption, and we expect this trend to continue," Mr Scott said.
"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.
"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."
Target runs a national network of more than 200 stores, including outlets in Bathurst, Dubbo, Mudgee, Lithgow, Parkes, Forbes, Cowra and Cootamundra.
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