Kohl’s Corporation reports news on its omnichannel retail business, which serves customers through more than 1,100 stores in 49 states, Kohls.com and the Kohl’s App. Updates commonly cover net sales, comparable sales, SG&A expense, operating income, cash flow, balance-sheet actions and quarterly dividends on KSS common stock.
Company announcements also address merchandising and seasonal promotions across apparel, shoes, accessories, beauty and home categories, including national and only-at-Kohl’s brands, Kohl’s Cash offers and digital shopping tools. Other recurring topics include executive leadership changes and community partnerships such as Kohl’s Cares and local hunger-relief initiatives.
Kohl's (NYSE: KSS) celebrates the one-year anniversary of its partnership with Sephora, which has expanded to over 600 stores. The collaboration shows strong sales, with Kohl's projecting $2 billion in annual sales by 2025. Sephora's presence has attracted over 1 million new customers, particularly younger and more diverse demographics. Additionally, notable beauty brands are benefitting from enhanced distribution. The initiative aims to enhance the shopping experience and increase traffic through offerings like online pickups and increased holiday assortments.
Kohl’s reported second-quarter results with a 7.7% decrease in comparable sales and an 8.5% decline in net sales, totaling $4,087 million. The diluted earnings per share (EPS) fell 55% to $1.11 from $2.48 the previous year. The company updated its 2022 financial outlook, forecasting net sales to decline 5% to 6%, with EPS expected between $2.80 and $3.20. Kohl's entered a $500 million accelerated share repurchase agreement, demonstrating confidence in its future despite economic challenges.
Kohl's (NYSE: KSS) has appointed Christie Raymond as its new Chief Marketing Officer, effective immediately. Raymond has been with the company since 2017, serving in various leadership roles, including her recent position as executive vice president for customer engagement, analytics, and insights. She has been acting as the interim CMO since May 2022. CEO Michelle Gass expressed confidence in Raymond's capabilities to enhance Kohl's marketing strategy and drive customer engagement, aiming to position the retailer as the top choice for active and casual lifestyles.
On August 9, 2022, Kohl's Corporation (NYSE: KSS) announced a quarterly dividend of $0.50 per share. This dividend will be payable on September 21, 2022, to shareholders on record by September 7, 2022. Kohl's continues to position itself as a leading omnichannel retailer, operating over 1,100 stores across 49 states and providing online shopping through Kohls.com.
Kohl's (NYSE: KSS) has launched a new Self-Pickup service for eligible online orders at over 1,100 stores across the U.S., enhancing the holiday shopping experience. Customers can pick up their orders within two hours without waiting in line. The service is part of Kohl’s commitment to improving omnichannel convenience, supported by positive feedback during its testing phase. This convenience aligns with the company's aim to use technology to streamline shopping and improve customer satisfaction.
Kohl’s (NYSE: KSS) has announced a partnership with Buffalo David Bitton, offering premium denim styles for men and women, available in over 600 stores and online at Kohls.com through January 2023. This addition aligns with Kohl’s strategy to enhance its denim portfolio, which already includes brands like Levi’s and Sonoma. Buffalo David Bitton, marking its 50th anniversary, emphasizes quality and style in its denim offerings. The collaboration aims to provide customers with versatile clothing options that suit their casual lifestyle, enhancing Kohl's brand assortment.
Kohl's (NYSE: KSS) has partnered with Levi's (NYSE: LEVI) to relaunch the iconic SilverTab collection, originally popular in the '90s. Available exclusively at Kohl's and online, the collection features relaxed and baggy denim for the whole family, aiming to enhance Kohl's reputation as a denim destination. The revival includes popular styles such as loose jeans and oversized jackets, targeting customers during the back-to-school season. This collaboration highlights Kohl's strategy of modernizing its offerings with premium styles to meet evolving consumer preferences.
Kohl's (NYSE: KSS) announced the expansion of its in-house retail media agency, Kohl’s Media Network (KMN), aimed at enhancing advertising opportunities for brands and partners. Leveraging its significant omnichannel presence and consumer data, KMN seeks to connect advertisers with Kohl’s engaged customer base of over 65 million. The network offers various media services, including on-site and off-site advertising options. Notable partners like adidas and Levi’s are already benefiting from KMN. The initiative aims to boost revenue streams and improve marketing effectiveness for all involved.
Kohl’s has reaffirmed its commitment to the Milwaukee community by renewing partnerships with eight local nonprofits, pledging over $2 million in support of initiatives aimed at improving quality of life for BIPOC communities. This funding contributes to the company's goal of donating $20 million by 2025. The partnerships include organizations like Acts Housing, Boys & Girls Club of Greater Milwaukee, and Milwaukee Art Museum, focusing on various programs from housing to education and health services.
Kohl's (NYSE: KSS) has launched 'Discover @ Kohl’s', a new initiative that introduces over 30 diverse and women-owned brands this back-to-school season. This program aims to create an engaging shopping experience across 600 locations and online, focusing on inclusivity and seasonal relevance. Customers can enjoy value with Kohl’s Cash, Kohl's Rewards, and a curated selection of products from brands like Ivory Ella and Yoobi, known for their charitable missions. The store emphasizes gender-neutral collections and partnerships, enhancing its commitment to diversity and community impact.