Kmart shelves still 'empty' despite re-stock promise.

Revenue from Kmart New Zealand represents less than 3 percent of the Group’s total annual revenue.Wesfarmers also confirmed that the Group will pay its previously declared fully franked interim dividend of $0.75 per share on 31 March 2020.At 12.00 noon today Wesfarmers shares were trading at $32.23 up 1.73%.Conflict among retailers and the New Zealand Government has broken out.Yesterday New Zealand Prime Minister Jacinda Ardern said “Don’t expect to be able to go down to your local Warehouse during the four-week lockdown”.In an announcement to the share market on Tuesday morning, The Warehouse said it was a provider of key consumer goods for New Zealanders and its 92 Warehouse stores and distribution centres would remain open.“In the past two weeks the group has seen unprecedented demand for essential items across all our brands. Fifty years after opening its first store in Lancaster County, only one Kmart will remain after the West Hempfield Township store closes this summer. Wesfarmers is shutting down its New Zealand Kmart outlets while 6800 Aussie employees will be stood down as Noni B, Katies and Rivers stores close.The Government has introduced new rules for Centrelink and MyGov services for hundreds of thousands of Aussies after failing to anticipate demand.



Wesfarmers the operators of Target, Bunnings, Officeworks and Kmart has announced that the closure of 25 New Zealand K Mart stores, ChannelNews understands that Harvey Norman and JB Hi Fi will be forced to close their stores in New Zealand following a Government ruling effective from today, Noel Leeming is also closing down.In today’s announcement there was no denial of claims that Wesfarmers are set to close down their Target stores in Australia that currently employ over 12,000 people.The WA Company said that at this stage, State and Federal government measures in Australia do not require the closure of retail stores.
Sears, the 133-year-old company that was once the jewel of American retail, continues its slow and precipitous decline. Bunnings’ 53 locations in New Zealand will remain open to trade customers but will be closed to the general public. Wesfarmers is shutting down its New Zealand Kmart outlets while 6800 Aussie employees will be stood down as Noni B, Katies and Rivers stores close. Kmart’s 25 New Zealand stores will be closed. Picture: iStock“All businesses in the Group are focusing on ensuring continued availability of products and services in a manner that minimises risks to team members and customers, including through online channels for the Group’s retail businesses.”The company stressed the New Zealand shutdowns would not have a significant impact on the overall company as, “Wesfarmers does not have significant operations in New Zealand outside of its Bunnings, Kmart and Industrial & Safety businesses,” and “revenue from its New Zealand operations represent approximately eight per cent of the Group’s total annual revenue”.But it’s another story entirely for Mosaic Brands, which owns the Rivers, Katies and Noni B fashion brands in Australia.In an investor note, it confirmed the company’s 6800 employees would be stood down as all stores in Australia closed indefinitely.It is understood almost 1400 stores could be affected by the temporary closures, which will kick in from tomorrow.“The health and wellbeing of the Group’s customers, team and broader community are paramount,” the statement reads.“The Group’s personal service mandate, which it prides itself on, conflicts with the Government’s ‘social distancing’ recommendations.”All Rivers, Noni B and Katies stores in Australia will also close.It said all team members would be “stood down with access to leave entitlements” and that the company was looking into government support schemes that may be available to them.“The Group will continue to communicate regularly with the team and will offer other forms of support through this difficult time and period of uncertainty, including access to its Employee Assistance Program,” the statement reads.“The Group has recently seen a significant drop in store traffic and revenue, a direct result of the community’s response to the COVID-19 outbreak and the Government’s ‘social distancing’ recommendations.“The Group is working with its business partner and is reviewing its cost of doing business with a view to reducing costs to match expected revenue.
Kmart will soon have just one store left in Minnesota.

... and post offices are expected to be the only retail stores that can remain open. Sign up to Kmail to discover our latest products and be inspired by the hottest trends all at our irresistibly low prices. Opened in 1992.

Additionally, the Kmart in West Orange is expected to close this month . Stay in the know with kmail!

Bunnings, Kmart, Target and Officeworks stores across Australia are operating under standard or near-standard trading hours.As a result of announcements made by the New Zealand Government on 23 March 2020, relating to the restriction of ‘nonessential’ services from midnight on 25 March 2020 for a period of four weeks Wesfarmers has taken the following action.The Group’s Industrial and Safety businesses in New Zealand provide a number of essential products andare currently working with the New Zealand Government to confirm that operations can continue.The Company said that revenue from its New Zealand operations represent approximately 8 per cent of the Group’s total annual revenue.

BREAKING NEWS: Wesfarmers Close Kmart Stores Harvey Norman Tipped To Follow

Stores in Wayne, Wall, Somers Point and Toms River are still listed, yet all have shuttered.


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