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Kmart's 5.5pc gain is Target's pain
2015-04-29 11:10:56| Agriculture - Topix.net
Discounter Kmart is cannibalising sales at sister chain Target, highlighting the dilemma for Wesfarmers as it attempts to reverse a five-year slide in earnings at the department store chain and justify its continued presence in the conglomerate's portfolio. Wesfarmers has blamed a steeper than expected 3.2 per cent slide in same-store sales at Target in the March quarter on gains at Kmart, where same-store sales rose 5.5 per cent, adjusted for Easter, the fastest pace for five years.
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Category:Agriculture and Forestry