Kohl's switched to a long -term voucher for years.
This comes at a time when the retailer tries to increase sales after some consistent financial problems.
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Michael Bandar, the temporary CEO of investors, said during a profit invitation on May 29 that many Kohl customers remain “financially tense” amid inflation and economic certainty of the global mutual tariff for President Donald Trump.
“People are trying to know how to understand the dollars they have to spend, and they give priority to the place they want to put,” Bandar explained.
CFO Jill Timm stressed that, noting that shoppers from average to low were “the most pressure” and are seeking to get lower prices in Kohl.
This is supported by data in a 6025 survey from Bloomberg News and Harris Poll.
It found that about three out of every five Americans are committed to reducing spending due to recession fears.
More than 70 % eat less and 57 % spend less on entertainment.
In recent months, Kohl's has not been in line with what customers seek to save money, according to the financial manager.
Specifically, sales of Kohl Cards were “delayed for the company”.
Care of voucher
Timm indicated that Kohl has reflected several moves to improve this trend.
She said in the call: “Our decisions related to reducing the volume of jewelry work inside the store, leaving Petations work, reducing stocks in private brands, and increasing voucher exceptions had a significant impact on the performance of the Kohl Card customers.”
“Since we have restored investments to these categories and reduce the exceptions of the voucher, we have witnessed an improvement in the direction of the sales of these clients.”
Timm added that the voucher exceptions “disappointed”, especially the shopping core kohl, added, “Many new brands”, as of April 28, were already linked to the response of positive sales.
“We return the products to the voucher, so we believe that being more promotional and we have valuable guidance throughout the year it will be important, especially because the customer with medium income that we serve is largely extended in the environment today,” the financial manager continued.
A private investment works well with Kohl's recently.
“People are trying to know how to understand the dollars they have to spend, and they give priority to the place they want to put,”
Michael Bandar
Beauty reward
A partnership with Sephora continues to provide increasing sales, with a 6 % increase on an annual basis in the first financial quarter.
Kohl's seeks to open the Sephora store inside all stores with an area of approximately 1,200 in the country later this year.
More than 1100 they already have.
“This spring, we will open 105 Smephora Small Format stores, which complements a full series of Sephora in Kohl's,” confirmed Timm.
“Sephora has achieved great success in Kohl's, and in just four years, we have successfully launched more than 1,100 Sevora at KoHL stores and built nearly $ 2 million in beauty.”
Kohl continues to move and adapt amid the closure of stores and the last shooting of former CEO Ashley Bokanan.
Bokanan was abandoned after being involved in “sellers' transactions that included an unknown conflict of interests.”
In January, the retailer announced that he would lead to the interpretation of 27 low -performance stores in 15 states by the end of April.
Colls also emptied famous “returns” after eight years.
A customer was left in the series that smokes recently after waiting for 20 minutes to recover money and make four phone calls.
