Kmart opens new store in St Mary’s Village Shopping Centre

While consumers are tightening their belts in response to rising interest rates and soaring inflation figures, Kmart is opening a news store in western Sydney.

Discount department store is oening a new Sydney store as it continues to buck cost of living pressures.Picture: John Appleyard

Discount department store chain Kmart is bucking the trend of many retailers by opening a new western Sydney store.

Deputy Premier and Minister for Western Sydney Prue Car will cut the ribbon on the St Mary’s store, the company’s 18th in the region, on Thursday.

While consumers are tightening their belts in response to rising interest rates and soaring inflation figures, Kmart continues to drive profitability.

In the financial year to June 30, Kmart’s revenue jumped 4.4 per cent to $11.1B.

And two of the company’s best performing stores are in western Sydney.

Kmart CEO John Gualtieri said the company’s ethos is to offer value to customers so they have more to spend on their mortgages and bills.

“It’s not just the jobs that we create that are important when we open a store, it’s also the access we are providing to great quality products at the lowest prices to make life that little bit easier that matters,” Mr Gualtieri said.

Chief Executive Officer at Kmart John Gualtieri said the new St Mary’s store would provide new jobs.

St Marys has a high proportion of younger, lower-income families and a lower than average household income of $76,800 compared to Sydney’s average of $113,800, the company said.

Prue Car said the new store in St Mary’s Village Shopping Centre was a “much-needed” addition to the St Mary’s town centre, and the majority of its new workforce are under 21 years old.

“Not only is this great for local families, but the opening of this store will bring in 200 new jobs to the area,” she said.

The head of the Australian Retailers Association Paul Zahra said stores offering low cost options continue to be popular to shoppers.

“Retailers will continue to invest in physical stores to increase their market share and to access new customers. Traditionally, it is a wise move to open stores during a down-cycle to be able to negotiate better lease deals and be ready for an uptick in spending when the economy improves.”

Celebrations at the new store’s opening will include free family entertainment and goodie bags for the first 100 customers to arrive in-store.