Target scandal claims another victim
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…
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…
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