The company explained the plan was to shut 10 to 25 large Target stores, alongside 50 smaller Target Country stores - and convert 92 other outlets into Kmarts.
'Our K hub stores may look a little different to what you'd expect from a normal Kmart store,' Kmart said in August last year.
Last year, 16 Target outlets transitioned into either a Kmart or the brand new K Hub concept store, while eight others permanently closed.
Over the next 12 months, 52 Target stores will close its doors for good after the retail chain suffered a $67million slump in sales, while 64 others are preparing to convert into Kmarts or 'K Hubs', which are smaller format country stores.
Customers will have the option to shop Kmart and Target's full product range online, then visit the store to collect their items.