Financial Performance - Net sales for Q3 2025 decreased by 2.8% year-over-year to $3.4 billion, with comparable sales down 1.7%[5] - Gross margin increased by 51 basis points to 39.6% of net sales[6] - SG&A expenses decreased by 2.1% year-over-year to $1.3 billion, representing 35.3% of total revenue, an increase of 55 basis points[6] - Operating income for Q3 2025 was $73 million, down from $98 million in the prior year, with an adjusted operating income of $77 million[6] - Net income for Q3 2025 was $8 million, or $0.07 per diluted share, compared to $22 million, or $0.20 per diluted share, in the prior year[6] - Net income for the nine months ended November 1, 2025, was $147 million, a significant increase from $61 million in the same period last year, reflecting a growth of 141%[20] Cash Flow and Liquidity - Cash flow from operating activities was $124 million, a significant improvement from a use of $195 million in the prior year[6] - Net cash provided by operating activities rose to $630 million for the nine months ended November 1, 2025, compared to $52 million in the prior year, indicating a substantial improvement[20] - Cash and cash equivalents at the end of the period were $144 million, down from $174 million, a decrease of 17.24%[20] - The company reported a net cash used in investing activities of $269 million, compared to $363 million in the previous year, showing a reduction of 25.93%[20] - The company had a net cash outflow from financing activities of $351 million, contrasting with a net inflow of $302 million in the prior year[20] Inventory and Assets - Inventory decreased by 5% year-over-year to $3.9 billion[6] - Merchandise inventories decreased from $4,099 million to $3,895 million, a reduction of 4.97% year-over-year[18] - Total assets decreased from $15,054 million in November 2, 2024, to $14,144 million in November 1, 2025, representing a decline of 6.05%[18] - Total current liabilities decreased from $4,393 million to $3,307 million, a decline of 24.74%[18] - Long-term debt increased from $1,174 million to $1,522 million, an increase of 29.6%[18] Dividends and Financial Outlook - Dividends paid decreased significantly from $166 million to $42 million, a reduction of 74.7%[20] - The company raised its full-year 2025 financial outlook following the Q3 results[5] - For the full year 2025, Kohl's expects net sales to decrease by 3.5% to 4% and adjusted diluted EPS in the range of $1.25 to $1.45[11] Leadership Changes - Kohl's Board of Directors appointed Michael J. Bender as CEO effective immediately[4]

US-based omnichannel retailer Kohl’s has appointed Michael Bender as CEO, effective from 23 November 2025, Bender has been the company’s interim CEO since 1 May after the board fired Ashley Buchanan. An external legal review, overseen by the Audit Committee, found that Buchanan had violated company policies by steering the company into vendor deals with undisclosed conflicts of interest. Bender will remain on the retailer’s board, where he has been a director since 2019. He was also board chair from May ...

Earnings Reports Overview - The current earnings season is nearing its end, with notable companies reporting during the holiday-shortened week [1] - Retail investors are particularly focused on earnings reports from major companies [1] Company-Specific Earnings Reports - WeRide Inc. (NASDAQ:WRD) and LexinFintech Holdings Ltd. (NASDAQ:LX) reported before the market opened on November 24, both showing better-than-expected results, leading to stock price increases [2] - Zoom Communications Inc. (NASDAQ:ZM) is expected to report third-quarter results after the market closes on November 24, with analysts predicting earnings of $1.44 per share and revenue of $1.21 billion [3] - Alibaba Group Holding Ltd. (NYSE:BABA) will release its Q2 earnings report before the market opens on November 25, with expectations of adjusted earnings of 81 cents per share and revenue of $34.43 billion [3] - Retailers Kohl's Corp. (NYSE:KSS) and Best Buy Co. Inc. (NYSE:BBY) are anticipated to provide insights into consumer behavior with their reports on November 25 [4] - Cleanspark Inc. (NASDAQ:CLSK), Dell Technologies Inc. (NYSE:DELL), and Zscaler Inc. (NASDAQ:ZS) are set to report after the market closes on November 25 [5] - Li Auto Inc. (NASDAQ:LI) and EHang Holdings Ltd. (NASDAQ:EH) will report their results before the market opens on November 26, alongside Deere & Co. (NYSE:DE), which has consistently beaten analyst expectations for 12 consecutive quarters [6] Market Schedule - U.S. stock markets will be closed on November 27 for the Thanksgiving holiday [8] - The stock market will have an early closure at 1 p.m. ET on November 28 [9]

Retail earnings take center stage this week as several holdings in the Direxion Daily Retail Bull 3X Shares (RETL) prepare to report results just days before the Thanksgiving and Black Friday shopping weekend. Six companies from the ETF's roster will release quarterly results between Monday and Tuesday. The group includes Burlington Stores, Inc. (BURL), Best Buy Co., Inc. (BBY), Kohl's Corp. (KSS), Dick's Sporting Goods, Inc. (DKS), Urban Outfitters, Inc. (URBN), and Abercrombie & Fitch Co. (ANF). These six ...

Kohl’s announced on Monday that interim CEO Michael Bender will become the ailing retailer’s permanent new CEO—making him the third chief executive to head the company in about three years. Most Read from Fast Company The news comes a day before the Wisconsin-based department store chain releases its third-quarter earnings report on Tuesday, November 25, at 9 a.m. “Over the past several months as interim CEO, Michael has proven to be an exceptional leader for Kohl’s—progressively improving results, drivi ...

Core Insights - Kohl's has appointed Michael Bender as the permanent CEO after a successful tenure as interim CEO, focusing on regaining customer loyalty and improving sales performance [2][9] - The company is implementing a strategy that emphasizes private labels, jewelry, and petite sizes to attract long-time customers while also appealing to new audiences [2][9] Financial Performance - Kohl's reported second-quarter results that exceeded expectations and raised its outlook in August, indicating some success in its turnaround strategy [3] - Despite recent gains, Kohl's shares have lost 8% over the past year, although they are up 12% year-to-date and recently increased by 2% [5] Strategic Initiatives - The company is adjusting its merchandise to emphasize value, enhance the in-store experience, and avoid stockouts of popular items [6] - Bender highlighted the importance of expanding fashion and home goods lines, as well as broadening coupon applicability to attract more customers [6] Market Context - Kohl's is part of a broader retail trend where companies are cutting prices and accepting smaller profit margins to entice cautious consumers [4] - The focus on private labels and jewelry is aimed at improving the company's standing with women, which has been a key demographic for Kohl's [10]

Kohl’s interim CEO Michael Bender is now officially the retailer’s CEO.By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions .Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.The company announced the change Monday (Nov. 24), nearly seven months after picking Bender to ...

Core Insights - Kohl's has appointed Michael Bender as its permanent CEO, tasked with reversing declining sales and profits after a series of leadership changes [1][4][10] - Bender's interim leadership has already seen the company's shares more than double, although they recently experienced a slight decline [2][9] - The company aims to attract budget-conscious shoppers by focusing on private-label brands, discounts, and a more fashionable assortment [4][5] Company Strategy - The immediate priority for Kohl's is to win back customers by simplifying product offerings and enhancing the fashion appeal of its merchandise [5][10] - Bender has accelerated efforts to engage lower and middle-income customers, introducing fresher items amid high inflation and tariffs [5][11] - The company is leveraging partnerships with Sephora and Babies "R" Us while streamlining operations through store closures and job cuts [8] Market Performance - Kohl's lifted its annual profit targets in the first full quarter under Bender, exceeding market expectations [9] - Despite recent improvements, market analysts express skepticism about the company's long-term strategy and execution capabilities [10]

Leadership Changes - Kohl's has appointed Michael Bender as the permanent CEO, marking the third CEO change in the last three years [1] - The decision followed an external search for leadership [2] Company Performance - Kohl's shares have increased by 138% since Bender took over as interim CEO on May 1st [2] - The company has faced struggles recently, but there is optimism in the market regarding its potential turnaround [2] Consumer Insights - Bender believes that the middle-income consumer, which Kohl's typically serves, is not disappearing but becoming more discerning in their choices [3] - The company aims to curate its product assortment to better meet customer demands and compete effectively [3] Company Culture and Strategy - Bender emphasizes the importance of fostering a winning attitude and culture within the company [3] - The focus is on understanding customer needs and delivering better than competitors to enhance the company's chances of success [3]

Kohl’s Corp. has promoted Michael J. Bender, who has been serving as interim chief executive officer of Kohl’s Corp. since May, to chief executive officer, the company announced Monday. “Over the past several months as interim CEO, Michael has proven to be an exceptional leader for Kohl’s — progressively improving results, driving short and long-term strategy, and positively impacting cultural change,” board chair John Schlifske said in a statement Monday. “With three decades of leadership experience acro ...