Could Albany be off Target?

Struggling retailer to downsize

Could Albany be off Target?

It's no secret that Target has been struggling for a few years. 

Whilst its fortunes have been in free fall, Wesfarmers stablemate Kmart has enjoyed incredible growth. 

Just a few years ago in 2011, they were neck and neck

Target had sales hitting $3.8 billion, Kmart $4 billion.

Fast forward to 2017 and Target's annual sales have dropped to $2.9 billion, whilst Kmart has pulled away to over $5 Billion per annum.

After years of trying to offload Target, Wesfarmers have ruled out merging the two retailers...for now.

Instead the WA based company will go about transforming under performing Target stores into Kmart outlets.

Two Melbourne Target stores have already converted to the Kmart brand with Victoria Park in Perth to follow shortly. 

It begs the question. What about Albany?

The plaza has both Kmart and Target, but given the Albany store's smaller size it could be seen as a possible "Target" to be shut down as the brand looks to downsize to focus on its flagship outlets.

We will watch with interest.

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