Target Australia expands online to New Zealand

Internet Retailing

18th Feb 2016

Target Australia will soon be available in New Zealand through online marketplace, Trade Me, listing more than 10,000 items from the brand’s product range.

Trade Me said it is thrilled to have made “the connection between Target and Kiwis who love a bargain.”

Target Australia is offering free shipping from the new online store to New Zealand until February 28 as part of the launch.

Target Australia currently doesn’t ship through its Australian website to New Zealand.

Announcing the new storefront, Trade Me pointed out Target Australia is part of the Wesfarmers group and has no affiliation with Target New Zealand or Target Corporation US.

Revenue rise
Trade Me reported on Wednesday a 9 per cent increase on its revenue year-on-year to $105.6 million and an EBITDA growth up by 2.5 per cent year-on-year to $66.3 million.

Trade Me posted an increase of its half-year earnings per share, which is 9.71 cents, up from 9.69 cents in the same period the previous year. A fully imputed interim dividend of 7.8 cents per share will be paid in March.

Company CEO, Jon Macdonald, said Trade Me’s revenue was “on track” in this half-year period. He said in a statement, “expenses were up 19 per cent year-on-year, but down significantly from 28 per cent year-on-year growth in the first half of F15.”

Macdonald said their classifieds continued to “grow strongly,” with revenue up 14 per cent from a year ago. He said revenue in Trade Me Motors also went up 10 per cent year-on-year, and Trade Me Property, 21 per cent in the same period.

“The business is demonstrating good momentum, and we have lots of opportunity in front of us – both in our core business and through extending into new things. We will continue to work hard to capture this opportunity,” he said.