"Many of these businesses are making very strategic decisions about making brands commercially viable. Target is shutting down more than a dozen stores in the Minneapolis-St.Paul area after one of its outposts in the city experienced looting on Wednesday as individuals gathered to protest the death of George Floyd. ... Mr Frank says he's relinquished any hope of tracking down the money he says he is owed. How effective will it be? "There was always going to be an adjustment," he said. Target shut down 14 Minneapolis stores after a store was looted during protests over the police killing of George Floyd. Minneapolis Nicollet Mall About half of all Target stores across the country will either close or be converted into Kmart stores in the next year. Oakdale All rights reserved. “At this time, we have made the decision to close a number of our stores until further notice. "Target has been underperforming Kmart over the past five years. "I think what we're seeing is the first in a series of waves for Target," he said. Minneapolis Uptown “The actions announced reflect our continued focus on investing in Kmart, a business with a compelling customer offer and strong competitive advantages, while also improving the viability of Target by addressing some of its structural challenges by simplifying the business model. The store closure will also come with a reduction of workers at Target, with many being transitioned to the Kmart brand. AEST = Australian Eastern Standard Time which is 10 hours ahead of GMT (Greenwich Mean Time), Myer, Kathmandu and Rip Curl stores to close, Shopping centres risk collapse as retail tenants threaten to walk away, As panic buying subsides the reality of the retail recession is sinking in, Johnson used COVID-19 to his advantage. The Target restructure is expected to take place over the next 12 months, although most activity is expected to occur next year. Images from inside of the looted store displayed garbage strewn about the floor, empty shelves and overturned displays. If you’d like to view this content, please adjust your Cookie Settings. “We are proud to have a rich history as an Australian company and we are committed to serving you, our valued customers, now and into the future. All times AEDT (GMT +11). "The overarching piece is that customers vote with their wallets, though. Target is just the latest casualty of Australia's ailing retail sector, with the owner of the iconic department store, Wesfarmers, announcing the closure or rebranding of more than 160 sites. Australian Target fans are in mourning today after parent company Wesfarmers announced up to 167 stores could disappear forever over the next year. Social distancing, store closures and working from home have seen online sales surge, with some retailers operating 'dark stores' to fulfil customer orders, and wondering whether to reopen all their bricks and mortar stores.
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