![]() Kohl’s has so far rejected calls for a spinoff or seeking a buyout offer. Shares tumbled 13% Monday and were flat in Tuesday morning trading.Īctivist investors on Wall Street have been circling Kohl’s for months, arguing that the chain has underperformed competitors and should consider spinning off its e-commerce business or going private. Wall Street isn’t convinced Kohl’s can pull it off. We expect these trends will live on well into the future,” Gass added. ![]() “This creates big opportunities for Kohl’s. Kohl’s believes it has an opportunity to reinvent itself as a leader in this growing market, and plans to add more fitness, athleisure and denim goods. Remote work during the pandemic sped up this wardrobe trend. “We’re evolving our position from a department store to a more focused lifestyle concept centered around the active and casual lifestyle,” Kohl’s CEO Michelle Gass said in a presentation to investors Monday.Ĭonsumers were dressing down long before the pandemic hit, ditching traditional office wear for denim and sneakers, and Kohl’s had been expanding its selection of activewear and casual brands in response. Kohl’s has lost 17% of its market share since 2011, primarily to discount stores such as TJ Maxx, Amazon and rival clothing brands, according to UBS analyst Jay Sole. Traditional chains such as Sears, JCPenney and others have been forced into bankruptcy, prompting Kohl’s to search for new ways to connect with shoppers. The approaches are part of a larger attempt to change how consumers see the Kohl’s brand amid a department store sector that’s been in decline for years. JCPenney and Tide tried to get rid of coupons. Katherine Frey/The Washington Post/Getty Images Penney employees hand out coupons to those waiting to get into the store on Thanksgiving Day Novemin Hyattsville, MD.
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