Goyder denies Target is ‘broken’

Wesfarmers boss Richard Goyder once described Target as the best business within the dishevelled Coles-Myer empire after his Perth-based conglomerate spent $18 billion scooping up a portfolio of businesses that included the supermarket chain, Officeworks and Kmart.
Oh, how times have changed. On Thursday, Target chief Stuart Machin – at the time of his appointment the third boss of the struggling retailer in 15 months – agreed with one analyst who described the business model as ”broken”, with a return to sales and pre-tax earnings momentum as much as three years away. ​Sydney Morning Herald – Read more…