Target unveils a new corporate structure and Alibaba’s profits more than doubled in the last quarter. Get a healthy dose of news as we uncover the day’s top stories in E-commerce.
Target Plans New Strategy for ‘Transformation’
Target has made 80 head office roles redundant as a result of its new corporate restructure. In a two-to-three-year strategy, the store aims to put ‘distance’ between itself and other chains such as Kmart and Big W. This new strategy aims to rejuvenate the beauty, fashion and homewares sectors so it can compete with the likes of Country Road and Myer.
“It is really about the acceleration of the transformation of Target, to do that we know we need to make ongoing improvements to the offer both in terms of the product, the stores and online, and so what we have done is reorganise our teams to go after that,” said Managing Director, Ian Bailey. “So we are making some adjustments to the number of people we have, so when we go to the old shape to the new shape we have about 80 roles that are no longer required.”
MYER Opens New Emporium in Sydney
Myer has launched the Beauty Emporium in Sydney. Also available in Chadstone and other Melbourne stores, the Beauty Emporium includes more than 80 brands and a ‘carefully-curated’ selection of skincare, wellness and beauty products for customers to try.
“Beauty Emporium by Myer confirms our place as the destination for all things beauty. Our new Emporium provides our customers with a carefully curated collection of the most-wanted, most-innovative skincare and makeup brands the world has to offer, many of which you will only find at Myer. This is backed by our wonderful team members, who will provide the highest level of advice and service to our customers on our range and offer. The Emporium truly sets us apart and differentiates us from the busy and competitive beauty marketplace, and we invite customers to visit us and experience it for themselves,” explained Sue Price, Myer’s Group General Manager for Beauty and Lingerie.
Alibaba Sales Jump 43 Per Cent
Alibaba Group Holdings has reported a. 42 per cent sales jump in its latest quarter. Moreover, it has also more than doubled in its profits. This comes as Founder, Jack Ma, is set to step down from his position as Chairman and passes the role to Chief Executive, Daniel Zhang. “This definitely marks a good ending of his role as the chairman and also signals a very smooth transition,” explained Bernstein analyst, David Dai. Alibaba’s sales grew to ¥114.9 billion ($24 billion AUD) in the last quarter, with its revenue skyrocketing 44% to ¥99.5 billion. The inauguration of its Cloud platform is also said to succeed with the introduction of 5G worldwide in 2020. Read more about Alibaba Cloud here.
Catch up on yesterday’s Freshly Squeezed news here.
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