There could be big changes happening at your local Target store soon, as owners decide what to do with the struggling business.
Wesfarmers, who own both chain stores Target and Kmart, said that Target’s earnings have “significantly decreased”. Some of the options they are considering include taking the business fully online or converting stores into Kmart.
The brand is loved for its afforadable homewares and linen range. Despite stores remaining open, there has been a “sustained decline in sales momentum” due mainly to social distancing and isolation measures.
The impact from Covid-19 combined with several years of disappointing sales has had an increasingly negative impact on the business.
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