Kohl's news and archive

Kohl’s reports strong earnings

Kohl’s fourth quarter net sales decreased 1.1 percent to 5.7 billion dollars and comparable sales decreased 4.3 percent; while fiscal year 2023 net sales decreased 3.4 percent to 16.6 billion dollars and comparable sales decreased 4.7 percent. However, the company reported fourth quarter net income was 186 million dollars or 1.67 dollars per...

BusinessFeatured

Hollywood, Skims and accountability: Top 11 US stories for 2023

There is no denying that 2023 has been a turbulent year for the US fashion market, as declining consumer confidence continued to take hold of the region and impact wider sales. No matter, while some large-scale conglomerates attempted to build up their defences through turnaround strategies, there were some positives for the industry, namely in...

People

Kohl’s appoints former Bath & Body Works CFO to board

US department store chain Kohl’s has announced the appointment of Wendy Arlin to its board of directors, as part of the company’s ongoing board refreshment process that aims to bring in “relevant, experienced leaders”. Arlin most recently served as chief financial officer for Bath & Body Works, building on three decades of experience in the...

BusinessFeatured

Kohl’s Q3 comparable sales down, narrows sales forecast

Kohl’s third quarter net sales decreased 5.2 percent, to 3.8 billion dollars, with comparable sales down 5.5 percent. Net sales for the nine months decreased 4.5 percent to 10.9 billion dollars, with comparable sales down 5 percent. Commenting on the third quarter results, Tom Kingsbury, Kohl’s chief executive officer, said: “Kohl’s third...

Business

Kohl’s COO and president makes sudden departure

The chief operating officer and president of Kohl’s Corp has made a sudden exit from the company months after taking on the role. Dave Alves was appointed to the top position early 2023, however a Securities and Exchange Commission filing by Kohl’s stated that his last day was already on Friday (November 17). The cause of Alves’ exit was not...

Business

Kohl’s chair to step down, new board members named

American department store chain Kohl’s has announced that its chairman, Peter Boneparth, will be retiring from his position at the end of his current term in May 2024. Boneparth’s departure comes 15 years after he joined the company as a director, with his role to now be taken over by current board member Michael Bender upon his exit. In a...

BusinessFeatured

Kohl’s Q2 sales and earnings decline

Second quarter net sales at Kohl’s Corporation decreased 4.8 percent and comparable sales decreased 5 percent, while diluted earnings per share reached 52 cents. The company’s first half net sales decreased 4.1 percent to 7 billion dollars, with comparable sales down 4.7 percent. Commenting on the trading update, Tom Kingsbury, Kohl’s chief...

Retail

Sephora to open 250 new locations at Kohl’s this year

American department store Kohl’s announced the expansion of 250 full-sized Sephora stores within its shops this year, reaching the initially targeted number of 850 stores in total across the United States. Customers will be able to enjoy the same experience they would in a free standing Sephora store, exploring a curated assortment from...

Business

Kohl’s Q4 and full year sales and earnings decline

Kohl’s Corporation said net sales decreased 7.2 percent to 5.8 billion dollars, with comparable sales down 6.6 percent. For the full year, net sales decreased 7.1 percent to 17.2 billion dollars, with comparable sales down 6.6 percent. Fourth quarter net loss was $273 million, or ($2.49) per diluted share. This compares to net income of $299...

Business

Dave Alves to join Kohl’s as chief operating officer

Kohl's announced that 30-year retail veteran Dave Alves has been named the company’s president and chief operating officer, reporting to CEO Tom Kingsbury, effective in April. In this role, Alves, the company said in a release, will be responsible for Kohl's enterprise operations including its nearly 1,200 stores, global supply chain and...

Business

Former Joules CEO named as new Kohl’s exec

Nick Jones, the former CEO of British fashion retailer Joules, has been appointed to the position of chief merchandising and digital officer at US-based department store chain Kohl’s. Effective in March, Jones will report directly to the retailer’s newly appointed CEO Tom Kingsbury. In the role, Jones has been tasked with overseeing the overall...

Business

Kohl’s selects new CEO, signs cooperation agreement with activist shareholder

American chain retailer Kohl’s Corporation has named Tom Kingsbury as its new chief executive officer, effective immediately. Kingsbury has served in an interim capacity for the role since December 2, 2022, and, with the new appointment, will continue to serve on the company’s board. Speaking on the news, board chair Peter Boneparth said in a...