As sales slump, Kohl’s turns to a new CEO to bring back customers

15 hours ago · A new CEO took the reins at Kohl’s this month, hoping to reverse a long losing streak at America’s largest department store chain. But after years of declining sales, a sharp …

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As Sales Slump, Kohl’s Makes A Big Change To Bring Back …

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Kohl’s is not the only department store chain that has struggled in recent years. More than 7,300 retail stores closed last year, a 57% increase from 2023, according to Coresight Research.

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FAQs about As sales slump, Kohl’s turns to a new CEO to bring back customers Coupon?

Are Kohl's customers urging new CEO Ashley Buchanan to reverse changes?

Kohl's customers are reportedly urging new CEO Ashley Buchanan to reverse changes made under prior leadership that alienated older, loyal shoppers. ...

What happened to Kohl's?

The previous Kohl’s CEO, Tom Kingsbury, downsized private-label brands, petite clothing sizes, and fine jewelry departments, replacing them with Sephora cosmetics and Babies “R” Us shops. The moves alienated longtime shoppers who valued Kohl’s for its quality clothes at reasonable prices. ...

Will Kohl's reverse a long losing streak?

A Kohl's department store on March 12, 2024, in Miami, Florida. A new CEO took the reins at Kohl’s this month, hoping to reverse a long losing streak at America’s largest department store chain. ...

How many Kohl's stores have closed in a year?

Kohl’s is not the only department store chain that has struggled in recent years. More than 7,300 retail stores closed last year, a 57% increase from 2023, according to Coresight Research. This marks the highest number of annual store closures since 2020, a year when the pandemic led to significant disruptions for businesses nationwide. ...

How did pop-up shops affect Kohl's sales?

While the pop-up shops performed well with younger customers, they alienated older shoppers. As a result, sales declined, costing Kohl's over $500 million in revenue and alienating loyal, older patrons, according to the report. ...

How did Kohl's perform in 2024?

Kohl's reported nearly a 10% decrease in consumer goods sales for the 2024 fiscal year. Kohl's sales have declined for 11 consecutive quarters, with the company forecasting a 7 to 8 percent sales decline and lower diluted earnings per share for the fiscal year. ...