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Retail giant Kmart opens more stores as competitor Target struggles with a corona virus pandemic

Shopping giant Kmart will open a massive new store as its main rivals struggle to survive the ongoing coronavirus pandemic, with shrinking numbers of visitors in malls.

The popular discount retailer has been confirmed as one of the primary tenants in a new $ 70 million super shopping center being built west of Brisbane.

The Yamanto Central 50-store development currently under construction near Ipswich, with phase one due to open early next year.

While Kmart remained profitable in deteriorating trading conditions, sister store Target suffered a worse than expected slump of $ 67 million.

Kmart will increase its retail presence by opening more stores (photo, a store in Perth)

Kmart will increase its retail presence by opening more stores (photo, a store in Perth)

Kmart is known for its cheap and trendy household items, including toasters for just $ 7.50 and coffee tables for just $ 29.

Meanwhile, the coronavirus pandemic has only accelerated the shutdown of dozens of other Australian retailers, including Target and David Jones.

Parent company Wesfarmers recently announced that 75 Target stores will close, while 92 others will be transformed into Kmarts.

Kmart and supermarket Coles will now be one of the first tenants when the Yamanto Central, owned by JMK Retail, opens its doors to shoppers in early 2021.

“It’s all you need,” said Vicki Leavy, general manager of JMK Retail Courier post.

“It is designed to be bought quickly or slowly.”

Kmart becomes one of the main tenants when Yamanto Central (pictured, in plans) opens near Brisbane

Kmart becomes one of the main tenants when Yamanto Central (pictured, in plans) opens near Brisbane

Kmart becomes one of the main tenants when Yamanto Central (pictured, in plans) opens near Brisbane

Ms. Leavy has noticed unprecedented demand for suburban shopping centers during the recent pandemic, with fewer customers willing to enter CBD.

He also explained that there was an ‘unbelievable’ level of potential tenants wanting to open new stores in shopping centers.

“The local centers are sure to maintain that level,” she said.

In February, Kmart rose to comparable store sales growth of 5.5 percent in the first half, compared to a 0.6 percent decline a year ago.

Discounted department store sales are $ 241 million, or 7.6 percent, up $ 4.99 billion.

Many stuggling Targets stores will be transformed into Kmarts (photo, a quiet Sydney store during the recent coronavirus pandemic)

Many stuggling Targets stores will be transformed into Kmarts (photo, a quiet Sydney store during the recent coronavirus pandemic)

Many stuggling Targets stores will be transformed into Kmarts (photo, a quiet Sydney store during the recent coronavirus pandemic)

Meanwhile, however, Target’s sales went the other way, dropping by 2.3 percent, compared to 0.5 percent growth a year ago, as it showed a worse-than-expected drop in sales of $ 67 million.

The sharp decline promptly revised the struggling retailer’s commercial viability.

Meanwhile, David Jones will close some of his 48 department stores due to a $ 464 million debt following a loss of sales.

Notable names such as Harris Scarfe, Bardot, Roger David and Napoleon Perdis also declined last year as flies with dozens of stores closing, resulting in heavy job losses.

Wesfarmers has now confirmed that ten to 25 large Target stores will be closed, in addition to 50 smaller Target Country stores.

Kmart will be one of the first stores when Yamanto Central (photo) opens in early 2021

Kmart will be one of the first stores when Yamanto Central (photo) opens in early 2021

Kmart will be one of the first stores when Yamanto Central (photo) opens in early 2021

Another 25 regional Target Country stores are transformed into small Kmarts, while between ten and 40 large stores become large Kmarts.

“The strategic review will consider all options for the Target business, including an accelerated store closing program, the conversion of some stores to Kmart and other structural options for the Target business,” Scott told Daily Mail Australia in an April press release.

“The review is an opportunity to review the network, number and size of stores to ensure it is fit for purpose.”

Target personnel are offered jobs at Kmart or other Wesfarmers companies, including Bunnings and Officeworks.

The changes will be rolled out over the next 12 months, with most of the retail rebranding work to be done in 2021.

TARGET STORES CONVERTED TO KMART STORES

NSW:

Bega, start mid-2021

Bowral, early 2021

Gunnedah, early 2021

Katoomba, early 2021

Moree, early 2021

Mudgee, early 2021

Picton, early 2021

Tumut, early 2021

Ulladulla, early 2021

Windsor Town S / C, early 2021

Yass, early 2021

QLD:

Ayr, early mid-2021

Beerwah, early mid-2021

Bowen, early 2021

Charters Towers, early 2021

Chinchilla, early 2021

Dalby, early 2021

Gatton, early 2021

Goondiwindi, early 2021

Gympie, early 2021

Ingham, early 2021

Mareeba, early 2021

Noosa Junction, early 2021

Ocean Shores Village Ctr, early 2021

Port Douglas, early 2021

Roma, early 2021

Sarina, early 2021

Stanthorpe, early 2021

Warwick, early 2021

Yamba, early 2021

Yeppoon, early 2021

VIC:

Ararat, early mid-2021

Castlemaine, September 2020

Cobram, July 2020

Echuca, July 2020

Hamilton, early 2021

Kyabram, September 2020

Lakes Entrance, early 2021

Leongatha, early 2021

Mansfield, early 2021

Portland, early 2021

Seymour, early 2021

Woodend, September 2020

Yarrawonga, early 2021

SA:

Berri, early 2021

Murray Bridge, early 2021

Port Augusta, early 2021

Victor Harbor, early 2021

WA:

Esperance, early 2021

Geraldton, early mid-2021

Northam, early 2021

Pinjarra, early 2021

NT:

Katherine, early 2021

Mr. Scott recently revealed that more Kmart stores can contribute to more pedestrians in malls and centers.

“Converting stores costs money, and there are a number of stores that are not commercially viable in the current structure,” he told the Australian Financial Review.

In some cases, it is better to close stores than to pursue nonviable stores.

“The chance is to find out how we share the costs and benefits together.”

Founded in 1969, Kmart has expanded to 209 stores across Australia and 25 in New Zealand

Founded in 1969, Kmart has expanded to 209 stores across Australia and 25 in New Zealand

Founded in 1969, Kmart has expanded to 209 stores across Australia and 25 in New Zealand

Target is Australia’s largest department store chain with 284 stores across the country.

Founded in 1926, the store was originally called Lindsays until 1968, when Myer Emporium bought the chain of 16 stores in Victoria, which were renamed Lindsay’s Target.

The retailer was rebranded as Target Australia in 1973.

Kmart opened Australia’s first discount department store in Burwood, Victoria in 1969, attracting an estimated 40,000 customers on opening day.

The chain expanded to 209 stores across the country and 25 in New Zealand.

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