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Yahoo
a day ago
- Business
- Yahoo
Kohl's makes major store changes to win back customers
Kohl's makes major store changes to win back customers originally appeared on TheStreet. Kohl's () , like many other mall retailers across the country, is battling a sharp change in consumer behavior amid recent economic uncertainty surrounding inflation and the impact of President Donald Trump's tariffs. In the midst of these challenges, Kohl's has also been shuttering underperforming stores, announcing in January that it would close 27 of these locations in 15 states by April. 💵💰Don't miss the move: Subscribe to TheStreet's free daily newsletter 💰💵 Last month, it also faced a major leadership shakeup when it fired its then-CEO Ashley Buchanan for engaging in 'vendor transactions that involved undisclosed conflicts of interest.'Amid these changes, Kohl's saw its net sales decrease by about 4% year-over-year during the first quarter of 2025, according to its latest earnings report. It also faced a net loss of $15 million. According to recent data from the average number of customers that visited Kohl's stores dipped by 2.7% year-over-year during the quarter. February was its worst month as visits declined by almost 7%. During an earnings call on May 29, Kohl's Interim CEO Michael Bender said that the company has noticed that some of its customers are 'stressed' financially. 'People are trying to figure out how to make sense of the dollars that they have to spend, and they're prioritizing where they want to put it,' said Bender. Kohl's Chief Financial Officer Jill Timm warned during the call that middle- and low-income customers are 'the most pressured,' which is causing them to prioritize value and seek lower prices for change in customer behavior comes during a time when many Americans are taking drastic measures to protect their finances amid worries about Trump's tariffs (taxes companies pay to import goods from overseas) impacting the economy. According to a recent survey from Harris Poll and Bloomberg News, 3 in 5 Americans said they are cutting back their spending due to concerns about a potential recession. More than 70% of Americans in the survey said they are eating out less, and 57% said they are spending less on entertainment. During the call, Timm also said that sales from Kohl's Card customers "continue to lag the company' due to several changes the company made in its stores, which it recently reversed. 'Our decisions related to downsizing our in-store jewelry business, exiting the petites business, decreasing inventory in proprietary brands and increasing coupon exclusions had an outsized impact to Kohl's Card customer performance,' said Timm. 'As we have made investments back into these categories and reduced coupon exclusions, we have seen an improvement in the sales trend of these customers.' More Retail: Costco quietly plans to offer a convenient service for customers T-Mobile pulls the plug on generous offer, angering customers Kellogg sounds alarm on unexpected shift in customer behavior She said Kohl's 'disappointed' its core customer by excluding more brands from coupons than it included. To fix this mistake, Kohl's added 'a lot of new brands' to its coupon selection on April 28. 'We are bringing products back into the coupon, so we do think being more promotional and being having value orientation throughout the year is gonna be important, particularly because this middle-income customer that we serve is pretty stretched in today's environment,' said Timm. Despite recently facing a dip in sales, Kohl's Sephora business continues to boom. During the first quarter, net sales in its Sephora stores increased by 6% year-over-year. Soon, every Kohl's location will have a Sephora store. 'This spring, we will open 105 Sephora small format shops, which completes the full chain rollout of Sephora at Kohl's,' said Timm. 'Sephora has been a huge success for Kohl's, and in just four years, we successfully launched over 1,100 Sephora at Kohl's shops and built nearly a $2 million beauty business.'Kohl's makes major store changes to win back customers first appeared on TheStreet on Jun 2, 2025 This story was originally reported by TheStreet on Jun 2, 2025, where it first appeared. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
The South African
2 days ago
- Business
- The South African
Orlando Pirates sign Soweto-born star as Timm replacement
Orlando Pirates FC's technical have swiftly found a replacement for veteran midfielder Miguel Timm. Timm's contract was not extended by the club, ending a glorious three-year spell at the club. The 33-year-old midfielder was pivotal for Orlando Pirates in their triple MTN8 trophy haul as well as their double Nedbank Cup triumph. Now, the club's scouts believe they've found the perfect Timm replacement. READ MORE • PSL side working on signing Kaizer Chiefs fan-favourite! READ MORE • Transfer report: Kaizer Chiefs sign Orlando Pirates superstar! According to the latest transfer gossip, Orlando Pirates FC have signed a new player to replace Miguel Timm. The club's scouts believe Marumo Gallants star Masindi Nemtajela is the perfect replacement. The 24-year-old midfielder who hails from Soweto has signed a long-term contract at the Buccaneers. 'The scouts and recruiters were looking at a direct replacement for Timm and Masindi fitted in that area and that's why they went for him. Now it's believed that everything is sorted and a three-year deal has been agreed,' an insider told Soccer Laduma . If everything goes according to plan for Nemtajela, he could remain at Orlando Pirates until 2030! His initial contract runs until 2028 while the club hold a two-year extension clause thereafter. The Buccaneers are expected to welcome a host of other news signings ahead of next season. This website will keep you updated throughout the busy transfer window. READ MORE • Orlando Pirates beat Kaizer Chiefs to star PSL signing! Will Masindi Nemtajela walk into the Orlando Pirates starting XI next season? Let us know by clicking on the comment tab below this article or by emailing info@ or sending a WhatsApp to 060 011 021 1. You can also follow @ TheSAnews on X and The South African on Facebook for the latest news.
Miami Herald
3 days ago
- Business
- Miami Herald
Kohl's makes major store changes to win back customers
Kohl's (KSS) , like many other mall retailers across the country, is battling a sharp change in consumer behavior amid recent economic uncertainty surrounding inflation and the impact of President Donald Trump's tariffs. In the midst of these challenges, Kohl's has also been shuttering underperforming stores, announcing in January that it would close 27 of these locations in 15 states by April. Don't miss the move: Subscribe to TheStreet's free daily newsletter Last month, it also faced a major leadership shakeup when it fired its then-CEO Ashley Buchanan for engaging in "vendor transactions that involved undisclosed conflicts of interest." Related: Ulta Beauty issues stern warning as consumers switch gears Amid these changes, Kohl's saw its net sales decrease by about 4% year-over-year during the first quarter of 2025, according to its latest earnings report. It also faced a net loss of $15 million. According to recent data from the average number of customers that visited Kohl's stores dipped by 2.7% year-over-year during the quarter. February was its worst month as visits declined by almost 7%.During an earnings call on May 29, Kohl's Interim CEO Michael Bender said that the company has noticed that some of its customers are "stressed" financially. "People are trying to figure out how to make sense of the dollars that they have to spend, and they're prioritizing where they want to put it," said Bender. Kohl's Chief Financial Officer Jill Timm warned during the call that middle- and low-income customers are "the most pressured," which is causing them to prioritize value and seek lower prices for products. Related: Best Buy CEO raises red flag about startling customer behavior The change in customer behavior comes during a time when many Americans are taking drastic measures to protect their finances amid worries about Trump's tariffs (taxes companies pay to import goods from overseas) impacting the economy. According to a recent survey from Harris Poll and Bloomberg News, 3 in 5 Americans said they are cutting back their spending due to concerns about a potential recession. More than 70% of Americans in the survey said they are eating out less, and 57% said they are spending less on entertainment. During the call, Timm also said that sales from Kohl's Card customers "continue to lag the company" due to several changes the company made in its stores, which it recently reversed. "Our decisions related to downsizing our in-store jewelry business, exiting the petites business, decreasing inventory in proprietary brands and increasing coupon exclusions had an outsized impact to Kohl's Card customer performance," said Timm. "As we have made investments back into these categories and reduced coupon exclusions, we have seen an improvement in the sales trend of these customers." More Retail: Costco quietly plans to offer a convenient service for customersT-Mobile pulls the plug on generous offer, angering customersKellogg sounds alarm on unexpected shift in customer behavior She said Kohl's "disappointed" its core customer by excluding more brands from coupons than it included. To fix this mistake, Kohl's added "a lot of new brands" to its coupon selection on April 28. "We are bringing products back into the coupon, so we do think being more promotional and being having value orientation throughout the year is gonna be important, particularly because this middle-income customer that we serve is pretty stretched in today's environment," said Timm. Despite recently facing a dip in sales, Kohl's Sephora business continues to boom. During the first quarter, net sales in its Sephora stores increased by 6% year-over-year. Soon, every Kohl's location will have a Sephora store. "This spring, we will open 105 Sephora small format shops, which completes the full chain rollout of Sephora at Kohl's," said Timm. "Sephora has been a huge success for Kohl's, and in just four years, we successfully launched over 1,100 Sephora at Kohl's shops and built nearly a $2 million beauty business." Related: Ross Stores makes drastic decision customers will see in stores The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Yahoo
6 days ago
- Business
- Yahoo
KSS Q1 Earnings Call: Kohl's Outlines Turnaround Priorities Amid Challenging Retail Backdrop
Department store chain Kohl's (NYSE:KSS) missed Wall Street's revenue expectations in Q1 CY2025, with sales falling 4.4% year on year to $3.23 billion. Its GAAP loss of $0.13 per share increased from -$0.24 in the same quarter last year. Is now the time to buy KSS? Find out in our full research report (it's free). Revenue: $3.23 billion (4.4% year-on-year decline) Adjusted Operating Income: $60 million vs analyst estimates of $43.42 million (1.9% margin, 38.2% beat) EPS (GAAP) guidance for the full year is $0.35 at the midpoint, missing analyst estimates by 47.4% Operating Margin: 1.9%, in line with the same quarter last year Same-Store Sales fell 3.9% year on year, in line with the same quarter last year Market Capitalization: $901.7 million Kohl's first quarter results reflected the early stages of a turnaround effort, with management emphasizing renewed focus on product assortment and customer needs. Interim CEO Michael Bender, newly appointed after a period of leadership change, stressed the importance of rebalancing the merchandise mix and restoring categories popular with core customers. CFO Jill Timm highlighted solid performance in reintroduced fine jewelry and petite apparel, attributing gains to reversing past decisions that alienated loyal shoppers. Management was candid that progress would be gradual, noting the turnaround is ongoing and that much of the required work still lies ahead. Timm acknowledged, 'This is a turnaround and will continue to take time, and much of the work remains ahead of us.' Looking forward, Kohl's is focused on driving improved value for customers while navigating ongoing pressures, including tariffs and cautious consumer spending. Management discussed initiatives to enhance proprietary brand penetration and expand coupon eligibility, aiming to regain lost wallet share from core shoppers. Bender emphasized the company's intention to 'align the business to meet the needs of our customers,' especially as many consumers face budget constraints. Timm outlined efforts to mitigate tariff impacts through diversified sourcing and cost management, stating, 'We believe we can achieve our financial guidance for the year…as we continue to work to reduce our exposure to high tariff countries.' The company expects the benefit of new assortments and promotional actions to build gradually through the year. Management traced first quarter performance to changes in merchandise strategy, efforts to restore lost customer segments, and continued operational discipline. Several key business updates shaped the quarter's outcome. Assortment rebalance underway: Kohl's re-emphasized core categories such as fine jewelry and petites after previously deprioritizing them, resulting in double-digit growth in those segments. Management attributed this to listening to long-time customers and rectifying past assortment decisions. Proprietary brands regaining traction: With renewed investment in value-oriented private label brands like Tek Gear and Lauren Conrad, Kohl's began to reverse underperformance in these lines. Timm noted proprietary brands improved 400 basis points quarter-over-quarter, but acknowledged they remain below company averages and require further attention. Sephora rollout completed: The chain finished adding Sephora shops to all locations, with beauty segment net sales up 6%. While growth rates have moderated as the rollout matures, management sees ongoing market share gains in beauty, especially in fragrance and hair categories. Digital channel lags but improving: Online sales declined again, driven by weakness in home and among Kohl's card customers. However, management pointed to early improvements as more brands became coupon-eligible online, with expectations of further gains as promotional changes expand. Operational cost control: SG&A expenses fell 5% year over year, reflecting disciplined store and marketing expenditures. Management credited ongoing efficiency efforts and a shift in credit servicing to an external party for helping offset sales pressures. Kohl's forward guidance is shaped by efforts to rebuild customer loyalty, manage external cost headwinds, and deliver value-focused merchandising. Customer wallet share recovery: Management is prioritizing regaining spend from core Kohl's card customers who reduced their shopping frequency and basket size after prior assortment changes. The company is expanding coupon eligibility and reintroducing favored proprietary brands to address this, aiming to increase both store and digital engagement. Tariff mitigation and sourcing: The company is actively shifting product sourcing to a wider range of countries to limit exposure to tariffs, working closely with suppliers to manage price elasticity and inventory flow. Management believes most tariff-related cost pressures can be offset through these sourcing strategies and promotional adjustments. Margin discipline amid investment: While investing in store layout improvements, digital upgrades, and fulfillment expansion, management plans to tightly control inventory and general expenses. They expect margin benefits as proprietary and impulse categories expand, but acknowledged ongoing gross margin pressure from value-focused pricing and cautious consumer behavior. In the coming quarters, the StockStory team will monitor (1) the effectiveness of efforts to win back core Kohl's card customers and drive proprietary brand growth, (2) the impact of new coupon eligibility and promotional strategies on both in-store and digital channels, and (3) progress in offsetting tariff pressures through sourcing and inventory management. Store layout changes and the performance of new product categories will also be critical indicators of turnaround momentum. Kohl's currently trades at a forward P/E ratio of 30.6×. Is the company at an inflection point that warrants a buy or sell? The answer lies in our full research report (it's free). The market surged in 2024 and reached record highs after Donald Trump's presidential victory in November, but questions about new economic policies are adding much uncertainty for 2025. While the crowd speculates what might happen next, we're homing in on the companies that can succeed regardless of the political or macroeconomic environment. Put yourself in the driver's seat and build a durable portfolio by checking out our Top 5 Strong Momentum Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Exlservice (+354% five-year return). Find your next big winner with StockStory today. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The South African
7 days ago
- Sport
- The South African
PSL club signing THIRD midfielder from Orlando Pirates
Former Orlando Pirates midfielder Miguel Timm is set to follow the same path as Thabang Monare and Linda Mntambo. As reported on Thursday, Orlando Pirates announced that the 33-year-old midfielder Timm has left the Buccaneers. The Durban-born star lost his place to Makhehleni Makhaula and Thalente Mbatha and only made three appearances for the Sea Robbers this season. Orlando Pirates midfielder Miguel Timm trains at the Rand Stadium. Image: FootballSA Timm joined the Sea Robbers from Marumo Gallants in 2022. He has left with three MTN8 titles and two Nedbank Cup trophies. According to iDiski Times' Lorenz Kohler, Timm is joining Sekhukhune United, the club where his former Orlando Pirates teammates Monare and Mntambo moved over the past two seasons. 'Sekhukhune United are set to sign midfielder Miguel Timm after his exit from Orlando Pirates,' the report said. 'iDiski Times understands a one-year deal with an option to extend has been agreed with Timm set to undergo his medical with the club on Friday,' Kohler added. Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1 Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
