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 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.
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 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.
Kohl’s has selected Dsco, an enterprise drop ship platform, to support its drop ship supplier network. The move enables Kohl’s to accelerate its strategy of leveraging its drop ship network to expand the assortment as part of its digital growth initiatives.
Kohl’s is boosting its hiring plans for the back-to-school, fall and holiday seasons, as well as a 130-store “omni power center” pilot program.
The National Retail Federation will name Kohl’s CEO Michelle Gass as “The Visionary,” an award given each year to an outstanding leader in the retail industry. The award will be presented during the sixth annual NRF Foundation Honors on January 12, 2020, in New York City.
Amazon Returns at Kohl’s is now available at the department store’s more than 1,100 stores nationwide.
Kohl’s has been rapidly revamping its approach to the consumer, testing, and in several cases, rolling out new initiatives including partnerships with everyone from Amazon and Planet Fitness to Weight Watchers and Aldi to entice shoppers.
Kohl’s said that all of its stores will now be accepting free returns for Amazon customers starting in July.