Kohl's Increases Private Brands Inventory to Bolster Value Messaging

Core Insights - Kohl's is focusing on enhancing value by increasing its inventory of private brands and providing more targeted offers to address declining sales [1][6] - The company reported an 8% year-over-year decrease in net sales and a 9.3% decline in comparable sales during the third quarter [1][2] Sales Performance - The decline in sales is attributed to weak performance in core categories such as apparel and footwear [2][3] - The exit from the fine jewelry business has allowed Kohl's to allocate more space to beauty products, which has seen growth, particularly with Sephora at Kohl's, which experienced a 15% increase in sales [4] Strategic Initiatives - Kohl's plans to increase inventory in private apparel brands, reintroduce fine jewelry, and enhance targeted marketing efforts to engage customers [6] - The company has seen a 40% year-over-year growth in impulse sales due to the addition of queuing lines in 200 stores [5] Leadership Changes - CEO Tom Kingsbury will step down on January 15, with Ashley Buchanan from Michaels Companies set to succeed him [7][8] - Kingsbury will remain in an advisory role until his retirement in May [8]