Kohl's Customers Push CEO to Restore Retailer's Past Glories

Core Viewpoint - Kohl's is undergoing leadership changes with the appointment of Ashley Buchanan as the new CEO, aiming to restore customer satisfaction and improve sales after a significant decline under the previous management [1][4]. Group 1: Leadership Transition - Ashley Buchanan, former CEO of Michaels Companies, has been appointed as the new CEO of Kohl's, succeeding Tom Kingsbury who stepped down [1]. - The leadership change comes as customers express hope that Buchanan can reverse unpopular decisions made by Kingsbury that led to a drop in sales [1]. Group 2: Customer Sentiment - Longtime shoppers are dissatisfied with the reduction of private-label brands, petite clothing sizes, and fine jewelry in favor of Sephora cosmetics and Babies R Us shops [2]. - Customers have voiced their desire for Kohl's to return to its previous offerings, with one shopper stating that the presence of brands like Nike and Eddie Bauer is unnecessary as they are widely available elsewhere [2][3]. Group 3: Sales Performance - Kohl's reported a 9.3% drop in comparable sales, prompting the company to announce a renewed focus on increasing private-label inventory [3]. - The previous CEO acknowledged that the lack of appropriate private brands negatively impacted the company's ability to serve its customers effectively [4]. Group 4: Market Strategy - The renewed emphasis on private labels aligns Kohl's with other retailers adjusting their strategies to attract consumers who are financially strained, as 83% of consumers express concern about current and future economic conditions [5].