Target to close dozens of stores nationwide

Dozens of underperforming Target stores across the country are set to close over the next five years.

Wesfarmers confirmed the news during an investor briefing day on Thursday, with a number of stores in the chain to close to achieve a 20 per cent overall reduction.

Wesfarmers department stores chief executive Guy Russo said creating a smaller and more profitable Target would help to secure its future.


“We’re not going to go after size any more, and we’ll just be a nice new boutique retailer that plays in mid-tier, and I’d like to make sure it’s a profitable mid-tier business,” he said.

It’s believed Target will try to reposition itself as more fashionable brand over the next 12 months, similar to the likes of international fast-fashion giants H&M, Zara and Uniqlo.

It is unknown which Target stores are earmarked for closure at this stage.