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) has appointed Nick Jones as Chief Merchandising and Digital Officer, effective March. Jones brings over 25 years of retail experience, previously serving as CEO of Joules Group and Chief Merchant at ASDA/Walmart UK. His role will focus on developing Kohl's merchandise strategy to enhance the active and casual lifestyle offerings, including overseeing product design and portfolio strategy. CEO Tom Kingsbury expressed confidence in Jones, highlighting his extensive background in merchandising and business leadership to drive innovation and customer engagement.
Kohl's (NYSE: KSS) has announced a $750,000 donation to Hunger Task Force to combat food insecurity in Milwaukee. This funding aims to provide 10 truckloads of food and support over 31,000 individuals monthly through a network of 68 food pantries and summer meal programs for children. Since 2009, Kohl's has contributed over $10 million to the cause. Hunger Task Force estimates about 30% of children in Milwaukee live in poverty. The ongoing partnership highlights Kohl's commitment to community support, providing a significant number of meals and food distributions, including 9.5 million pounds of food in 2022.
Kohl’s Corporation (NYSE: KSS) has appointed Tom Kingsbury as Chief Executive Officer, effective February 2, 2023. Kingsbury, who served as Interim CEO since December 2, 2022, brings over 40 years of retail experience, including leadership roles at Burlington Stores. The Company has also established a cooperation agreement with Macellum Advisors, which now includes multi-year standstill provisions, ensuring continued collaboration. Board Chair Peter Boneparth expressed confidence in Kingsbury's ability to enhance sales and profitability, while investor sentiments are positive regarding the leadership change.
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Kohl's (NYSE: KSS) is enhancing customer shopping experiences during the holiday season with various conveniences such as in-store pickup and extended hours. Gift options include popular items like Sephora gift sets, Amazon Fire Kids Tablets, and Nike basketball shoes. Kohl's customers can also benefit from daily deals and events, including a Friends & Family sale offering 25% off on Super Saturday, December 17. Gift cards are highlighted as ideal last-minute gifts. The company emphasizes its commitment to delivering value and convenience to shoppers this holiday season.
Kohl’s (NYSE: KSS) has announced a $5 million donation to over 150 nonprofits across the U.S. as part of its philanthropic initiative, A Community with Heart. This year's grants, ranging from $5,000 to $65,000, aim to support family health and wellness initiatives. Since 2018, Kohl’s has contributed more than $24 million to local nonprofits through its program. The contributions are fueled by the company's Kohl’s Cares® merchandise sales, which donate all net profits to charitable causes. Notable beneficiaries include the American Cancer Society and the National Urban League.
Kohl's has launched a series of promotions starting Cyber Monday and continuing through Christmas Eve, enabling customers to earn Kohl's Cash every day. Promotions include daily savings events and free store pickup options. Key discounts include 20% off with code SHOP20 and exclusive offers on popular items like Sephora products and Shark Vacuums. Additional savings weekends are scheduled for early December. Kohl's emphasizes a convenient shopping experience with digital tools and rewards, aiming to enhance the holiday shopping experience.
Kohl's Corporation (NYSE: KSS) reported a challenging third quarter with a 6.9% decrease in comparable sales and a 7.2% decline in net sales, totaling $4.277 billion. Net income dropped 60% to $97 million, while diluted earnings per share also fell 50% to $0.82. Due to macroeconomic headwinds and the CEO transition, the company has withdrawn its previous guidance for the fourth quarter. Following the completion of a $500 million accelerated share repurchase agreement, Kohl's declared a $0.50 per share dividend, payable on December 21, 2022.
Kohl’s Corporation (NYSE: KSS) announced a quarterly dividend of $0.50 per share, payable on December 21, 2022, to shareholders recorded by December 7, 2022. This regular dividend reflects the company's ongoing commitment to shareholder returns while maintaining its position as a leading omnichannel retailer in the U.S., with over 1,100 stores. Kohl’s aims to be the trusted retailer of choice, focusing on diverse offerings and environmental, social, and corporate governance initiatives.
Ancora Holdings Group, LLC, holding 2.5% of Kohl’s Corporation (NYSE: KSS), issued a statement regarding a management transition. Ancora expressed satisfaction with the appointment of Tom Kingsbury as interim CEO, a nominee from Ancora's shareholder group in 2021. They believe Kingsbury’s retail experience will enhance Kohl's leadership and drive value for investors, customers, and employees. Ancora also supports Kingsbury and Margaret Jenkins in forming a committee to identify a permanent CEO, emphasizing the need for operational expertise in the company’s leadership.