Kmart boss is eyeing off BigW in the hunt for growth
KMART boss Guy Russo has his eyes on at least 50 stores or struggling rival Big W as he hunts for ways to double the size of his department store business and drive revenue to $10 billion.
While Woolworths is considering what to do with its underperforming Big W chain, Wesfarmers-owned Kmart has no designs on the struggling business itself - it's the leases Mr Russo wants and the Big W employees.
"We know that Big W has lost sales for the last two years and so we would really like to take over any of their under performing boxes and provide consumers with better prices in those areas," Mr Russo said.
Kmart has reached out to every Big W landlord across the 152 store network and Mr Russo said there were about 50 shops he'd like to convert to Kmart stores.
"It's easy growth but it's not easy to get because you need two things to happen. One is the owner needs to say, 'I need to let go of something that's losing me money'," Mr Russo said.
Read more at Brisbanetimes.com.au