Target Australia has announced the permanent closure of three of its stores across three states.
In New South Wales, the Campbelltown Target will officially shut shop on July 4th, while Western Australia’s Meadow Springs store will close on August 1st, and the Pasadena store in South Australia will close on May 30th.
Rob Scott, the chief executive of Wesfarmers highlighted Target’s “unsatisfactory” financial performance in a briefing last month, and said store closures were “inevitable”.
His statement came after news broke that the chain’s sales had fallen 2.3 per cent, despite a 0.5 per cent growth a year ago. It also recorded a $67 million sales slump.
This has prompted a planned review into Target’s operations, which is due to be completed by June 30th.
Target is currently Australia’s largest department store chain with 284 stores across the country.