In its ongoing support to slow the spread of COVID-19, Kohl’s is extending the duration of its temporary store closures until further notice. Due to the significant impact to the business, Kohl’s is taking additional actions to strengthen its financial flexibility.
A range of retailers across channels are responding to the coronavirus outbreak with moves to temporarily close their stores, reduce store hours and other consumer and employee oriented initiatives.
Kohl’s has partnered with Lands’ End to offer the retailer’s entire assortment of women’s, men’s, kids, and home merchandise on Kohls.com, directly fulfilled and shipped by Lands’ End, beginning fall 2020.
Kohl’s beat a Wall Street fourth quarter estimate and showed some bright spots in its performance, but CEO Michelle Gass expressed disappointment with the company’s financial results.
Kohl’s is eliminating about 250 positions as the company restructures, an initiative that includes eliminating a layer of regional management positions, according to published reports, as well as shaking up the merchant organization.
Kohl’s board of directors has increased the size of the board to 12 members and appointed Kroger’s Yael Cosset to fill the new board seat effective February 2, 2020.
As part of Kohl’s commitment to health and wellness this year, the department store is continuing to collaborate with wellness company WW (formally Weight Watchers International). Kohl’s and WW are launching WW pop-ups in select stores this January to support customers on their wellness journeys.
Kohl’s has reported that its comparable sales for fiscal November and December 2019 combined decreased 0.2% over the same period last year.
Kohl’s is expanding an elevated in-store beauty experience pilot to a total of 12 stores across the country.
Kohl’s stores nationwide will once again keep their doors open around the clock for holiday shoppers beginning at 7 a.m. local time on Friday, December 20 through 6 p.m. local time on Christmas Eve, Tuesday, December 24.
Kohl’s may have improved its momentum as the third quarter ended with a comparable store sales increase, but it missed a Wall Street estimate for the period.
Kohl’s is looking to inspire gift givers with product newness and a range of deals this holiday season. The retailer said that its new marketing campaign, “New Gifts at Every Turn,” will recognize and reward the gift giver’s effort, excite customers with product newness and spotlight Kohl’s Cash.
Kohl’s is providing its shoppers with an early look at its Black Friday specials, which includes a number of specials on housewares products.
Kohl’s is launching a significant number of new brands that will join its product portfolio during the fall and holiday seasons. Shoppers will discover new brands across product categories including new brands to Kohl’s, new collaborations and new partnerships with existing Kohl’s brands.
Designed in partnership with Drew and Jonathan Scott, Kohl’s newest home brand, Scott Living at Kohl’s, is now available in store and online.
Kohl’s said that Bruce Besanko has decided to retire from the company at the end of the fiscal year and will step down from his position as chief financial officer, effective November 1. At that time, Jill Timm, Kohl’s evp/finance, will be promoted to CFO.
Kohl’s is boosting its seasonal hiring efforts for the back half of the year, and said it plans to hire 90,000 seasonal associates.
Kohl’s Sona Chawla will step down from her role as president of the retailer in mid-October to pursue new opportunities.
Second quarter sales at Kohl’s were down but officials with the company reported that same-store sales toward the end of the three month period ended August 3 showed improvement.
Kohl’s is teaming with Facebook to launch Curated By Kohl’s, a selection of products from emerging brands that will initially be available in 50 Kohl’s stores beginning in October.