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HomeeCommerce NewsKohl’s Comp sales drop by 13.3 Pct due to the pandemic cut on apparel and footwear sales

Kohl’s Comp sales drop by 13.3 Pct due to the pandemic cut on apparel and footwear sales

Kohl’s Comp sales drop by 13.3 Pct due to the pandemic cut on apparel and footwear sales

As per Kohl’s report on Tuesday, it said that the pandemic has cut down on their footwear and apparel sales with the slashing comparable sales drop by 13.3% in the Q3.

Kohl’s CEO Michelle Gass said that the pandemic had significantly impacted the school sales, which heavily affected their August’s sales performance. However, the sales trend rebounded appropriately in September and October.

Gass further said this trend is encouraging them to know about the important categories to focus on over the holiday seasons. And they are going to use it as a key part of their strategy to move forward. According to Gass, the company is prepared for the holiday season.

“Given the heightened role of digital this year, it will be more important for us to further drive awareness of our store and curbside pickup services,” Gass noted further.

Gass also said that the Ship from the store would continue as an essential support for the omnichannel network. According to her, the company is about to double the number of stores to carry the incremental inventory and fulfill all online orders of this season.

Gass further said that the company is operating everything safely with the expectations that they will drive more customers to their brick-and-mortar retailers.

Therefore, the executive said that Kohl’s have also focused on the extensive health and safety measures in the earlier 2020 to ensure further cleaning measurements. It is also to support social distancing.

On the matter of the Merchandise selection, Cass said that the company has entered into the season with the collection of items based on the shopper’s interest. And Kohl is focusing on Active, cozy, home, comfort, and toys.

As Gass further said that “We also expect to see more practical gifting and a continued focus on the value this holiday, which Kohl’s is known for.”

Gass has also outlined the new strategic framework for the four key areas. These areas include expanding operating margin, driving top-line growth, accountable and inclusive culture, and disciplined capital management with agile.

As per the overall results, Kohl’s has reported with 1 cent in the adjusted diluted earnings on the share of the $3.78 net sales drop amount. The result has exceeded the loss per share estimation of 43 cents on the $3.86 billion in net sales.

Alf Alferez
Author: Alf Alferez

Dedicated writer with a strong track record of developing customer loyalty and managing general office operations. Enjoy being a part of a company where my skills and creative ideas will benefit the overall productivity of the organization. I have a strong desire to work in helping make the world a better place. Please reach out to me on [email protected]

Author

Dedicated writer with a strong track record of developing customer loyalty and managing general office operations. Enjoy being a part of a company where my skills and creative ideas will benefit the overall productivity of the organization. I have a strong desire to work in helping make the world a better place. Please reach out to me on [email protected]