Target Australia will consolidate its store count by 20% over the next five years.
The move will reposition the discount department store as a mid-tier boutique retailer.
Target Australia has been clawing its way back under the guidance of Guy Russo, Wesfarmers CEO of department stores.
Russo has been re-engineering product and store footprint, since it posted a $195 million loss in 2016.
Speaking to investors yesterday, he confirmed Target will commence shutting a portion of its 305-store network across Australia.
“We’re not going to go after size any more," he said. "I would like to make sure it's a profitable mid-tier business."