These are the ones changing. Target stores across the country are set to be closed or converted into Kmart stores this year as parent company Wesfarmers tries to stem its losses. As a whole, the food, beverage, and grocery industry accounts for more than a third of Australia's manufacturing sector. Target, Myer and David Jones have also announced plans to shutter underperforming stores. VICTORIA. The Hornsby store, in Sydney's north, closed … Australian economy is riding on $507 billion government stim... China hits back at Australia over Hong Kong joint statement. For them it’s an ominous sign of plunging sales. K and Tigerlily have collapsed completely. Again, most states and territories are affected except the ACT and Tasmania. Over the last couple of years about two dozen chains have collapsed, with the makeup empire of Napoleon Perdis the latest in an increasingly long line of failures. Target stores are being closed with many replaced with Kmarts. Read how many FNQ stores will be impacted. KPMG retail specialists delve into the key trends and forecasts included in the report. Myer closed 74,670 square metres of stores in 2015-17 and shut down its Colonnades store in Adelaide and Belconnen outlet in Canberra. At the onset of the year 2020, whereas many as 161 Australian Bricks and Mortar stores in Australia have already announced their closures. Australian economy is riding on $507 billion government stim... China hits back at Australia over Hong Kong joint statement. Woolworths’ share price of $36.75 may well be down from a high of almost $43.60 in February, but it’s trading higher than just about any time in the last five years. Myer announced the closing of three stores across Australia in September 2017. Full list of the Target stores closing, rebranding as Kmart NSW. A growing number of stores and dretailers have announced they are temporarily closing stores in an effort to prevent the spread of coronavirus. Indian Motorcycle Australia will close its company-owned stores in Brisbane, Sydney, Melbourne and Perth and move to a system of privately owned dealerships. “Some are shutting down because their categories aren't necessarily considered essential and customer numbers are down – fashion in particular has been hit pretty hard.”. In December 2019, 50.1 million parcels were delivered by Australia Post, a 23 per cent increase on the same month’s figure in 2018, but this still only makes up 10-11 per cent of what’s being bought in Australia. “We’ll be increasing our digital capabilities, so that we can continue to meet growing demand in this space,” it said. News that 9000 Australians will be stood down from retailers including Just Jeans, Flight Centre and Lovisa will come as no surprise. It comes after 16 Target outlets already went through transformations into Kmarts in 2020. • March 25: Accent Group is temporarily closing of all its stores, which include The Athlete's Foot, Hype and Platypus, with 5000 workers impacted.You can continue to shop these brands online. On April 19, 2020, Neiman Marcus announced that it would file for bankruptcy. Picture: NCA NewsWire/Flavio BrancaleoneSource:News Corp Australia. Australia Consumer Spending. Wesfarmers’ Officeworks has seen its bottom line boosted as people refashion their dining room tables into workstations. Yet, at the moment, Myer will stay open. 2020 starts with a whimper Bose joins a list of retailers who have committed to closing stores over the next few months, with EB Games shutting 19 stores, Harris Scarfe closing 21, Bardot closing 58, and Curious Planet’s closure seeing 63 doors shut. The ASX-listed group told investors on Thursday it had 'no choice' but to temporarily close all of its retail stores until April 22. Stricken women's retailer Bardot will close dozens of stores across Australia as it struggles to find a buyer, it was announced in January. Picture: Stefan Postles/AAPSource:AAP. Earlier this week in a note to the ASX, Woolworths Group said it was “not able to accurately forecast the net impact of COVID-19 on the financial year results”. Sign up, Join the conversation, you are commenting as Logout. Nike (and others) close stores in Australia In a race to stop the spread of COVID-19 worsening in Australia, major retailers are opting to close their stores. So, I feel like – for these retailers – coronavirus might just be the tipping point for them.”, Join the conversation, you are commenting as, news.com.au — Australia’s leading news site, 9000 jobs in limbo as Peter Alexander, Just Jeans, Dotti close. Dymocks has seen a 344 per cent increase in sales of children’s nonfiction and educational books as parents prepare to have their kids at home for potentially months. Shopping centres have been quiet and, aside from the supermarkets within them, are likely to remain so. Today’s store closures are the latest in a long line of retail casualties in 2019. Woolworths, which owns 28 of the centres it anchors, has said it will offer rent relief to most of its tenants and even give staff casual roles in the supermarkets and liquor stores for the next few months. Target confirmed 52 stores across all states and territories except the Northern Territory. Breaking news and updates on the Australia retail industry covering technology, payments, stores, consumer trends and behaviours and more. Fashion retailer Colette by Colette Hayman is set to close a quarter of its stores, weeks after it was placed into voluntary administration. Pier 1 said in January that it planned to close 450, representing about … Many retailers in Australia are far from achieving this and must be careful not to rush with permanent solutions too quickly to avoid regret spend. In the video above: Why Aussie retailers are struggling Mosaic Brands says the leases on around 87 per cent of its 1,333 stores are expiring over the next two years and it anticipates closing potentially 300 to 500 of those stores over that time period. While the Target’s physical footprint will shrink, the business would still be available 24 hours a day, it announced in a business update. Right now, most shops can remain open. The businesses across world markets are rallying down, and retail markets have been hit in the worst manner. The brutal 2020 retail bloodbath … Peter Alexander stores will all close at the end of today. Target stores across Australia will start to be converted into Kmarts from the start of this year. Metcash, which supplies IGA-branded stores, hasn’t traded higher than now since May 2018. Grocery store and supermarket revenue was $135 billion in 2018, representing a 13.7% growth since 2014. The company is temporarily closing all of its stores, which include TJ Maxx, Marshalls, HomeGoods, Sierra, Winners, HomeSense, for the next two weeks in the US, Canada, Europe and Australia… Vicinity Centres, that operates Melbourne’s Chadstone, Sydney’s Queen Victoria Building and DFO, has seen its share price plunge by two-thirds. It is one of the most ruthless bloodbaths in the retail market that is being witnessed in Australia. It said all team members in Target stores scheduled for conversion to Kmart would receive an offer of employment from Kmart, while those from closing stores would be “given consideration for new roles”. Australian retailers are currently going under at the rate of about one a month, making everyone in the industry nervous. News of the shrinking Target estate broke last year after sales slumped by $67 million, but many of the changes are happening in 2021. SOUTH AUSTRALIA. news.com.au January 15, 2021 6:56pm Dymocks has seen 400 per cent growth in some categories. Image: SuppliedSource:Supplied. Like other big chains, Kmart is struggling with an overall slow down in the retail sector. So, I feel like – for these retailers – coronavirus might just be the tipping point for them.”, To join the conversation, please Log in. Earlier this week, it was revealed that a popular Best & Less store would be closing its doors - and earlier this year it was confirmed that Big W would close 30 stores due to falling profits. But this does not … Premier Investments chief executive Mark McInnes said the retailer had no choice but to temporarily close all of its 900-odd retail stores in Australia … Rival Big W has already announced 30 stores will close in the near future. “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,” Wesfarmers managing director Rob Scott said last year. “They sell items like home electronics, toys, books, home office supplies, gym equipment, plants – these are all things that people are now focusing on now that they're both working and entertaining themselves at home now.”. How to return a broken item: ‘No returns’ policy, legal advi... Big rise in Australian shopping habits a promising sign for ... New Kmart stores: The Target stores closing and being conver... Find out more about our policy and your choices, including how to opt-out. All times AEDT (GMT +11). Find out more about our policy and your choices, including how to opt-out. A number of suburban Sydney and regional NSW Target stores will either shut down or convert into Kmarts in the coming months as Target looks to cut costs and protect staff. Customers are embracing the Reject Shop. The Bose website lists 50 stores in the U.S. — which will all be out of business within months. A NOTE ABOUT RELEVANT ADVERTISING: We collect information about the content (including ads) you use across this site and use it to make both advertising and content more relevant to you on our network and other sites. These are the ones changing. The Australian Retail Outlook 2020, co-produced with Inside Retail offers retailers key insights into the year ahead. The smaller format KHub that will see some Targets transformed. To see how bad it is, just peek into your local shopping centre today and see how barren it will look. Premier has also said it won’t pay rent on its stores for a month. “There's no denying that the bushfires, the subdued Christmas sales, the Hong Kong protests and Brexit would have hit some retailers hard,” said Inside Retail’s Ms Hui-Miller. He acknowledged that closing Target Country stores could leave some regional areas without a department store. Premier said that the closures were because its “primary focus is the health and safety of employees, customers and the broader community.”. Pier 1 Imports: 950 stores. Art supplies retailer Riot Art & Craft has closed its 56 stores, after being placed in liquidation last week, as pressure mounts on Australian retailers. Target stores closing or being converted to Kmart stores in Queensland. In the space of six months, department store Myer – heavily reliant on clothing sales – has seen its share price plummet from a high of 62c a share to just 12c today. “There are retailers that are not necessarily considered as essential as supermarkets, but are selling products that are continuing to do well in this current climate. In early February the share price took a nosedive and is now at just $1.68. Neiman Marcus announced plans in September 2017 to close 25% of its Last Call outlet stores. Picture: Angelo Velardo/AAPSource:News Corp Australia. news.com.au — Australia’s leading news site. With closures and conversions, almost half of Target’s 284-odd Australian stores are expected to disappear. No choice. Shopping centre staple Premier Investments – whose brands include Smiggle, Peter Alexander, Just Jeans, Jay Jays, Portmans, Jacqui E and Dotti – said yesterday it would temporarily shut up shop due to the outbreak until April 22. 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