Who owns Target Australia?

Kmart Australia
Wesfarmers
Target Australia/Parent organizations

Is Target Australia the same as target us?

There’s a popular retail chain called Target that can be found across Australia — and it’s unrelated to the famous Target brand in the US. Despite having the same name and nearly identical logos, the two Targets on opposite hemispheres are actually owned by completely separate companies.

What happened target Australia?

Wesfarmers flagged closures in May 2020, announcing that 75 Target stores would permanently close. The company said the move was necessary to improve the commercial viability of the business. Around 55 Target branches around Australia are expected to be converted into Kmart outlets this year.

Is Target Australia closing down?

Target has finally confirmed exactly when certain stores will be closing around Australia as a nationwide restructure rolls out in 2021. In May 2020, Wesfarmers, who own both Target and Kmart, confirmed that 75 Target stores would be closing.

Is Target owned by Wesfarmers?

In late 2006, the group name changed to Coles Group Ltd after the divestment of Myer, and in November 2007, Target was acquired by Wesfarmers as part of the Wesfarmers acquisition of Coles Group Limited.

Is Wesfarmers part of Target?

Why did Target fail in Australia?

Why are Target stores closing? Despite its great brand recognition, Target as a large-format retail offering was potentially cannibalising sales from sister group Kmart, and didn’t offer a great enough point of difference compared to Myer and David Jones.

Who owns Kmart Australia?

Wesfarmers
Kmart Australia/Parent organizations

Kmart Australia Limited is an Australian-based chain of affordable retail stores owned by the Kmart Group division of Wesfarmers. The company operates 234 stores across Australia and New Zealand, consisting of 209 stores in Australia and 25 stores in New Zealand, with its head office located in Mulgrave, Melbourne.

Which Target stores are closing in Australia 2021?

TARGET STORES THAT ARE CLOSING

Is officeworks part of Wesfarmers?

Officeworks is a chain of Australian office supplies stores operated under parent company Wesfarmers. The company was established in 1994 by Coles Myer, which became Coles Group before it was acquired by Wesfarmers.

Is the Target store in Australia owned by Wesfarmers?

The Minneapolis-based retailer says it has no relationship with Target Australia, even though the two companies share the same name and bull’s-eye logo. Target Australia, owned by Wesfarmers Ltd., uses the same logo as the American Target and a similar motto.

What kind of charges did Wesfarmers take on target?

Target isn’t quite out of the woods yet, however, and Wesfarmers announced impairment charges such as goodwill ($47 million), brand name ($238 million) and other fixed assets ($21 million), bringing total impairment to $306 million for the year.

Who is the CFO of Target Australia?

Wesfarmers Department Store division CFO, Marina Joanou, has also been promoted to managing director of Target Australia, effectively immediately. Russo remains an advisor to the group for the rest of the 2019 financial year from 1 November.

When did target become part of Coles Group?

In late 2006, the group name changed to Coles Group Ltd after the divestment of Myer, and in November 2007, Target was acquired by Wesfarmers as part of the Wesfarmers acquisition of Coles Group Limited. The Target division provides employment for over 13,000 team members right across Australia as well as a product sourcing presence in Asia.