Low prices: That's what's going to get registers ringing this holiday season at Kohl's, which is clawing its way out of a business slump. So said Kevin Mansell, CEO of the 1,134-unit department store chain, at Goldman Sachs' retail conference on Thursday. His comments come a day after the CFO of competitor Target delivered the opposite message at the investor conference, vowing not to partake in the price wars during the Christmas shopping season.
With J.C. Penney’s new pricing structure echoing that of Wal-Mart’s EDLP model, the most recent Retail Ratings Reports from BIGinsight indicates both retailers could face challenges when it comes to the women’s clothing category. For years Wal-Mart has led Kohl’s in the category, however, in November of 2011 Kohl’s surpassed the discounter and the two have been tangling for the top position ever since.
Wal-Mart, Target, Kmart and Kohl’s are all celebrating a milestone 50th anniversary this year. It’s hard to believe that all four were founded in the same year, but combined these stores changed the way America shops. Happy birthday to modern retail!
An animal advocacy organization is trying to use stockholder leverage to press Kohl's into swearing off fur. The Humane Society has placed a shareholder proposal on the agenda of the big retailer's annual meeting. The resolution asks shareholders to encourage the company to develop a policy by the end of the year to prohibit the sale of products that use animal fur. The Kohl's board opposes the measure.
Kohl's will start selling an exclusive "American Idol" clothing line in April, the department store said. The collection, called Authentic Icon, will be available in stores through June to coincide with the 11th season of the show.
Kohl’s was honored with the Environmental Protection Agency’s 2012 Energy Star Award for Sustained Excellence at a ceremony in Washington, D.C. The award recognizes Kohl’s long-term commitment to protecting the environment through energy-efficiency initiatives. Kohl’s was recognized by the EPA in 2010 and 2011 as an Energy Star Partner of the Year, and in 2011 also became the first retailer to be named an EPA Green Power Partner of the Year for three consecutive years.
Kohl's has announced the grand opening of eight new stores in seven states, including Florida, Illinois, Missouri, New Hampshire, New York, North Carolina and Pennsylvania. The retailer, which now operates 1,134 stores in 49 states, says the new units will create 1,000 new jobs. Kohl's reported it will also remodel 50 stores this year.
Kohl's has joined a handful of other up-and-coming masters of retailing in spreading brick-and-mortar stores nationwide during the suburban building boom. Now, however, Kohl's real estate ambitions are waning as the retailer deals with the effects of online retailing and slower growth overall in its physical stores.
Kohl's is the recipient of the People's Pick award in the Harris Poll Customer Relationship Series. The award recognizes the strength of consumers' bonds with midtier department stores and reflects their connections and future intentions.
High fashion may not be the first thing that comes to mind when one thinks of Kohl's, but the retailer is trying to associate its name with just that. Using social media, the department store is promoting six of the designer labels it carries in its stores to not only be seen as a high end retailer, but also to increase traffic to its Facebook page and website as well as interaction with Facebook fans.