Target scandal claims another victim

 In Australia, NewZealand, Target
Wesfarmers’ new department stores chief Guy Russo is under pressure to assess whether to accelerate the turnaround strategy at Target or come up with a new strategy following a sharp fall in earnings in the December-half.
Wesfarmers shareholders and analysts said the accounting scandal at Target had underscored the poor performance of the mid-market retailer, which has suffered a 70 per cent in earnings over the last five years.
Mr Russo, who took the helm of a restructured department store division in February, needed to decide quickly whether to step up changes introduced by former Target managing director Stuart Machin or come up with a strategy that differentiated Target from Kmart, Woolworths’ BIG W and Myer, they said. Sydney Morning Herald – Read more…

Recent Posts

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.