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Thinking outside the square

Credit Suisse analyst Grant Saligari, has come up with a left field solution to the woes of the Target discount department store chain. Saligari has suggested Wesfarmers could cash in on Kmart’s current strong performance and equity value by selling the chain and focus on fixing the struggling Target chain. Target has become a basket case for Wesfarmers, shedding 18 per cent of sales on a same store basis for the half year to 31 December 2016 and seeing net earnings fall by 78 per cent to $16