Department store chain Kohl's Corp. (KSS) announced Thursday that the Board of Directors has decided to terminate chief executive officer Ashley Buchanan for cause after an investigation conducted by outside counsel and overseen by the Audit Committee of the Board determined Buchanan violated company policies. Buchanan was found to have directed...
May 1, 2025
Department store chain Kohl's reported a significant downturn in its fourth-quarter performance, signalling ongoing challenges in its turnaround strategy. Net sales plummeted by 9.4 percent, while comparable sales declined by 6.7 percent. Earnings per share (EPS) dropped to 95 cents for the quarter under review. Despite initiatives implemented...
Mar 11, 2025
2024 seemed to take shape as a period of transition for many of the industry’s biggest players as they looked to swiftly, yet effectively, turn around lacklustre financials and return to growth, profitability or both. To lead such strategies, many took to overhauling their leadership teams, naming new CEOs in the process who have come in guns...
Jan 3, 2025
Kohl’s third quarter net sales decreased 8.8 percent to 3.5 billion dollars and comparable sales decreased 9.3 percent. Gross margin was 39.1 percent, an increase of 20 basis points, operating income dropped to 98 million dollars and net income declined to 22 million dollars or 20 cents per diluted share. The company said in a release that Kohl’...
Nov 27, 2024
US department store chain Kohl’s has outlined its chief executive officer transition plan as its current head, Tom Kingsbury, confirms his intention to step down from January 15, 2025. Kingsbury will be succeeded by Ashley Buchanan, but will stay on in an advisory role and retain his position on the board of directors through to his retirement...
Nov 26, 2024
U.S. retailers Abercrombie & Fitch Co. (ANF) and Kohl's Corp. (KSS) reported on Wednesday results for the second quarter that topped analysts' estimates, with Abercrombie & Fitch raising its outlook for the full-year 2024, while Kohl's slashed its adjusted earnings and sales growth guidance for fiscal 2024. Following the results, Abercrombie &...
Aug 28, 2024
First quarter net sales at Kohl’s decreased 5.3 percent to 3.2 billion dollars and comparable sales decreased 4.4 percent. The company said that regular price sales increased 2.4 percent with clearance impacting overall comp by more than 600 basis points. Commenting on the first quarter update, Tom Kingsbury, Kohl’s chief executive officer, said...
May 31, 2024
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...
Mar 13, 2024
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...
Dec 22, 2023
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...
Dec 21, 2023
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...
Nov 22, 2023
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...
Nov 21, 2023