The department store giant’s 10-Q filing on Sept. 3 also detailed the rising strain on the business, which today counts over $3.4 billion of long-term debt, up from $1.8 billion a year ago.
Why did Kohl’s go bust?
The results follow bankruptcy filings by peers J. Crew, Neiman Marcus and JCPenney on the back of huge losses racked up in the two months since US states began issuing stay-at-home orders .
This of course begs the query “Why is Kohl’s sales declining?”
Like other clothing stores, Kohl’s has experienced declining sales in recent months due to temporary store closures despite a 24% increase in online sales last quarter. Gross margins also fell to 17.3% from 36.8% a year ago, and the store’s stock has fallen more than 65% this year alone.
Why is Kohl’s cutting back on in-store brands?
A Kohl’s representative told TODAY that cutting back on the brands offered in-store will “create space to introduce a more compelling and current offering to our customers, while improving the overall clarity to reduce choice counts .” The move comes after a tough quarter for the store, where net sales fell 43.5%, according to CNBC.
The popular retailer plans on removing eight brands from stores, including several well-known names like Jennifer Lopez and Juicy Couture. “Kohl’s is committed to creating assortments that are right for our customers.
“Kohl’s is committed to creating assortments that are right for our customers. As CEO Michelle Gass mentioned on Kohl’s Q1 earnings call, we will exit eight downtrending women’s private brands,” a Kohl’s spokesperson told TODAY Style.
What brands are going out of Business at Kohl’s?
Kohl’s Corp. plans to eliminate eight “down-trending” women’s brands , in favor of growing the active category.
Why did kohls stop selling my pillows?
Kohl’s said in a statement Tuesday that the company had decided to stop selling My Pillow products because of declining sales . “Kohl’s has made the decision to exit the My. Pillow brand,” the retailer said in a statement.
, my Pillow is also still sold at Amazon, Belk and some other major retailers. A representative from Kohl’s confirmed the decision to exit the My, and pillow brand. “There has been decreased customer demand for My. Pillow,” the spokeswoman said in an emailed statement. “We will sell our current inventory and not buy additional/future inventory in the brand.”.
Will Bed Bath&Beyond and Kohls stop selling MyPillow?
Com News Forum – Bed Bath & Beyond and Kohls will STOP
selling My. Pillow because of CEO
Mike Lindell’s support of voter fraud
theories – as Dominion Voting systems
threatens to sue him for defamation over
‘baseless lies’.
Why did Bed Bath and beyond stop selling my pillows?
, my Pillow CEO Mike Lindell revealed Monday that retail stores Bed Bath & Beyond and Kohl’s will stop selling his products on account of his continued support of My. Pillow CEO Mike Lindell revealed Monday that retail stores Bed Bath & Beyond and Kohl’s will stop selling his products on account of his continued support of.
Why did kohls stop selling dana buchman?
The retailer is eliminating eight brands, citing weakened demand for woman’s clothing . The company is planning on offloading its Jennifer Lopez, Juicy Couture, Popsugar, Dana Buchman, Mudd, Candie’s, Rock and Republic, and Elle brands, Reuters reported.
Last July, the Claiborne organization announced that Dana Buchman was among 16 brands that it planned to sell, discontinue or license, as a part of the company’s long-term growth strategy . This led to the licensing deal with Kohl’s, which will market Dana Buchman apparel and accessories in 1,000 Kohl’s stores starting next spring.