Despite the huge loss that Kohl’s had last year, the CEO is “extremely confident” in the company’s outlook.
As an ordinary employee, I am not so confident when I read that full year net sales are down 20%. I'm not sure if there is room for optimism.
From the media: https://biztimes.com/kohls-lost-163-million-in-2020/
Their inventory seems affected by the pandemic too. I tried ordering online and item after items was listed as being out-of-stock. I was able to order the items I wanted on eBay, no problem. My wife and I used to buy a majority of needed items from our local Kohls. Selection, quality, value has all gone down. We used to be pestered by cashiers trying to sell the credit card, leading me to hate going there. So many other places to shop nowadays....g-bye.
20% compared year over year during a pandemic and major disruption to overall business, including 3rd party vendor supply chain issues? This is a non issue. Best to look forward. Sephora agreement is a huge traffic draw, especially since Sephora is focusing on this partnership as part of their “way forward plan” and will most likely exit malls as leases expire. Kohl’s relestate position exclusive of malls affords them key negotiation power.
Ain’t about what the “customers” think, it’s about what The Street thinks. And their “extremely confident” in The Street, but “consumer confidence” is what counts and it will catch up to them....just look at Sears, Bonton, Hudson Bay.... alls good until the consumer confidence proves otherwise
You'd think people had the brains to understand that COVID-19 massively suppressed sales for physical retailers, but apparently not.