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☆ Macy's hasn't closed 150 stores yet. But Target, Kohl's CEOs already smell opportunity
▼ + stars: | 2024-04-01 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +5 min

Those companies already count many of Macy's shoppers as their customers, according to an analysis of credit card data by Earnest Analytics. Macy's closures could put as much as $2 billion of market share up for grabs. The department store's net sales were $23.1 billion in the most recent fiscal year, and it said the 150 stores that it's closing account for less than 10% of sales. About 63% of Macy's stores have a T.J. Maxx or Marshalls within a one-mile radius, according to an analysis by Jefferies. Off-price stores also draw a similar customer, which tends to be more affluent.

Persons: Macy's, Justin Sullivan, Brian Cornell, Tom Kingsbury, Maxx, Jefferies, Ross, Earnest, Penney, Tony Spring, Corey Tarlowe, Cornell, Tarlowe, Cos, Mercedes Organizations: Getty, CNBC, Nordstrom, Earnest Analytics, Target, Abercrombie, Fitch, Home Goods, Jefferies, Toyota, Maxx Locations: San Leandro , California, United States, New York, Burlington, U.S

☆ Babies R Us is coming to about 200 Kohl's stores
▼ + stars: | 2024-03-12 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +1 min

Kohl's said Tuesday that it's teaming up with the owner of Babies R Us to bring baby gear, furniture and more to approximately 200 of its stores across the country. In a news release, Kohl's said the first Babies R Us shops will open this August and expand to more stores in the fall. Kohl's said the shops will range from 750 to 2,500 square feet, and will add more brands and merchandise to Kohl's baby category. As of Monday's close, Kohl's shares have fallen about 5% so far this year. Kohl's shares closed on Monday at $27.19, bringing the company's market value to $3.01 billion.

Persons: Kohl's, it's, Joe's Jeans, Anne Klein, Fisher, Price, It's, Tom Kingsbury, Michelle Gass, Levi Strauss, That's Organizations: WHP, Burlington Stores, Franchise Group, Macy's

☆ Jim Cramer's take on Kohl’s, On Holding, Southwest Airlines, 3M and Paramount Global
▼ + stars: | 2024-03-12 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +2 min

Kohl's : Shares fell about 2% after the department store chain delivered a fourth-quarter earnings beat, but same-store sales declined more than expected. However, "if you own it, keep it," Jim Cramer suggested, referring to Kohl's stock. On Holding : Shares plunged 14% after the buzzy Swiss shoemaker's quarterly earnings missed estimates alongside a slightly softer-than-expected outlook. Paramount Global : Private equity firm Apollo Global Management has reached out to Paramount Global about a possible takeover or asset purchase, Axios reported Tuesday, citing two sources familiar with the matter. "If you're playing this for upside, you've got to remember we do not believe in mergers if we think the fundamentals are not good, and the fundamentals are not good" at Paramount Global, Cramer said.

Persons: Jim Cramer's, Jim Cramer, Cramer, Tom Kingsbury's, Bill Brown, Mike Roman, Roman, Brown, Axios, you've Organizations: CNBC, Club, Burlington Stores, Swiss, Southwest Airlines, Boeing, L3Harris Technologies, 3M, Paramount Global, Private, Apollo Global Management, CBS

☆ Cramer's week ahead: Earnings from Adobe, Dollar Tree and Dollar General
▼ + stars: | 2024-03-08 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Friday guided investors through next week's most important happenings on Wall Street, highlighting Adobe 's earnings report, as well as ones from Dollar General and Dollar Tree . Dollar Tree reports on Wednesday, and Cramer said Wall Street has long favored dollar stores, adding that the company has a "good a handle on the psyche of the American consumer." The producer price index will be released Thursday, as well as earnings from Dollar General. Like Dollar Tree, he thinks the company will do well, and it will "tell a story of price cutting that the analysts will lap up." But by the end of the week, Wall Street will be buzzing about Nvidia 's conference, which is set to take place from March 18 to 21.

Persons: CNBC's Jim Cramer, Cramer, Kohl's, Tom Kingsbury, Williams, Lennar, Jabil Organizations: Adobe, Dollar, Oracle, Vail Resorts, Holding, Burlington Stores, Sporting Goods, Nvidia Locations: Sonoma

REUTERS/Mike Segar/File Photo Acquire Licensing RightsDec 1 (Reuters) - Retailers like Amazon.com and Foot Locker are signaling optimism for holiday season sales after stronger-than-expected figures during Black Friday and Cyber Monday, as heavy discounts lured budget-strained customers on the peak U.S. shopping days. Early estimates on holiday shopping have been encouraging to some investors after retailers sounded cautious notes in the lead-up to the season. "We know we're buying for wallet share with a value-conscious consumer this holiday season. Deep discounts have been a key feature heading into this year's holiday shopping season and holiday discounts could get even bigger in December, according to some retail executives. Kohl's (KSS.N) CEO Tom Kingsbury said last week the company was "coming out on holiday very aggressively in terms of promotions."

Persons: Mike Segar, Jimmy Lee, we've, Mary Dillon, Tom Kingsbury, Cos, Jason Benowitz, Deborah Sophia, Juby Babu, Pooja Desai Organizations: REUTERS, Adobe Analytics, National Retail Federation, Wealth Consulting, Amazon, Black, BofA, Walmart, Abercrombie, Fitch, American Eagle Outfitters, Roosevelt, Thomson Locations: Robbinsville , New Jersey, U.S, Bengaluru

☆ Kohl’s holiday look previews the retailer’s plans to snap out of sales slump
▼ + stars: | 2023-10-19 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +8 min

Melissa Repko | CNBCAs shoppers head to Kohl's stores this holiday season, they will see gift ideas, Christmas ornaments and a potential glimpse of the retailer's future. Kohl's has leaned in by opening more Sephora shops inside of its stores. It'll be a bigger part of this holiday season. A year ago, roughly half of Kohl's stores had a Sephora shop. Pet merchandise is getting more square footage at Kohl's stores.

Persons: Merchant Nick Jones, Melissa Repko, Tom Kingsbury, Michelle Gass, Levi Strauss, Kohl's, Kingsbury, Christie Raymond, Covid, Raymond said, splurge, It'll, Raymond, Sephora, it's, Nick Jones, It's, Jones, Fido Organizations: CNBC, Burlington Stores, Franchise Group, Kohl's, Marks, ASDA, Walmart, Bed Locations: Ramsey , New Jersey, Kohl's

☆ Kohl's beats profit estimates on cost cuts, leaner inventory
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: +2 min

Aug 23 (Reuters) - Kohl's Corp (KSS.N) beat estimates for quarterly profit on Wednesday, as leaner inventories, lower costs and fewer discounts helped the department store chain counter a broader retail slowdown. Inventory declined 14% during the quarter as Kohl's undertook stock clearance, leading to a 61 basis points drop in gross margin. "It managed to sell more excess inventory and reduced its expenses, which helped it beat expectations," Insider Intelligence analyst Zak Stambor said. "While Kohl's is still in the early innings of its turnaround plan, it appears to be moving in the right direction," Stambor said. The company earned 52 cents per share in the second quarter ended July 29, above analysts' estimates of 22 cents.

Persons: Tom Kingsbury, Kohl's, Zak Stambor, Stambor, Savyata Mishra, Anil D'Silva Organizations: Kohl's, Insider, Retailers, Thomson Locations: Kingsbury, Bengaluru

☆ Kohl's shares jump as retailer reports a surprise profit
▼ + stars: | 2023-05-24 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +6 min

Kohl's shares spiked Wednesday as the struggling retailer posted a surprise profit and affirmed its full-year guidance while it chases a turnaround. Kohl's surprise quarterly profit comes after multiple quarters of disappointing sales and a sinking stock price. Since then, Kohl's has tapped its new CEO Kingsbury, former chief executive of off-price retailer Burlington Stores . That contributed to a big loss in Kohl's holiday quarter and weak outlook, which the Wisconsin-based company reiterated Wednesday. During the quarter, Kohl's had its strongest sales performance in February.

☆ Kohl's blamed its rough quarter on a squeezed middle class, but one analyst says it's because stores are a mess
▼ + stars: | 2023-03-01 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +4 min

But one analyst blamed messy Kohl's stores and "dispiriting" stores during the holidays. Kingsbury said that Kohl's store portfolio remains healthy. Kohl's partnerships with other brands is driving sales, CEO saysKohl's and Amazon inked a deal in 2019 that allows Amazon customers to return items to Kohl's stores. Ted Shaffrey/APKingsbury also highlighted Kohl's partnership with Sephora, which operates store-in-store concepts in Kohl's locations across the US. Kohl's previously said that the Amazon partnership drew over 2 million new customers to its stores in its first year.

☆ Kohl's shares sink after big holiday-quarter losses
▼ + stars: | 2023-03-01 | by ( Melissa Repko | ) www.cnbc.com time to read: +4 min

Kohl's shares sunk on Wednesday after the retailer posted a big loss and a sales decline of about 7% in the holiday quarter. Kohl's is not the only retailer that has felt a pullback as consumers spend more on food, housing and other necessities. During that same three-year period, spending at Kohl's fell by 15.4% and profit at the company plummeted by 203%. Kohl's inventory remains elevated, up 4% year over year as of the end of the fourth quarter, the company said. As of Tuesday's close, Kohl's stock is up about 11% this year, outperforming the approximately 3% gain of the S&P 500.

☆ Kohl’s had a rough holiday
▼ + stars: | 2023-03-01 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

New York CNN —As consumers pulled back on their holiday spending amid biting inflation, it seems that Kohl’s dropped off many shoppers’ lists. Sales at Kohl’s stores open for at least one year dropped 6.6% during the holiday quarter, the company said Wednesday. Kohl’s comments echo those of other retailers, like Walmart (WMT) and Target (TGT), who have said consumers are strained, although those companies posted stronger holiday results than Kohl’s did. This change in shopping behavior hurts Kohl’s more than big-box rivals because the chain does not sell food, nor as many necessities. In November, Kohl’s chief executive Michelle Gass announced she was leaving the company to become the CEO-in-waiting at Levi’s (LEVI).

☆ Kohl's swings to surprise loss as margins crumble on steep discounts
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +2 min

March 1 (Reuters) - Kohl's Corp (KSS.N) reported a surprise quarterly loss and forecast full-year profit well below analysts' estimates on Wednesday, as steep discounts to boost sluggish demand for apparel shredded the retailer's margins. Those discounts were the major contributor to a more than 10 percentage point decline in fourth-quarter gross margins to 23%, Kohl's said. Kohl's reported a loss of $2.49 per share for the fourth quarter ended Jan. 28, compared with estimates for a profit of 98 cents. Comparable sales at Kohl's fell 6.6% in the fourth quarter, compared with analysts' estimate of a 3.7% decrease. Separately, apparel maker Abercrombie & Fitch (ANF.N) also missed holiday quarter earnings estimates on Wednesday, hit by higher costs of cotton.

☆ Stocks making the biggest moves premarket: Rivian, Kohl's, Novavax and more
▼ + stars: | 2023-03-01 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Revenue for the quarter came in at $663 million, falling well below analysts' estimates of $742 million, according to Refinitiv. Sarepta Therapeutics — The biotech stock soared by 17% after Morgan Stanley upgraded Sarepta shares to overweight from equal weight. Kohl's reported a loss of $2.49 per share on $5.78 billion of revenue. Analysts surveyed by Refinitiv had expected positive earnings of 98 cents per share on $5.99 billion of revenue. Monster reported $1.51 billion in revenue, falling short of analysts' expectations of $1.6 billion.

☆ Kohl's names interim CEO Tom Kingsbury to the post permanently
▼ + stars: | 2023-02-02 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +1 min

The Kohl's logo is displayed on the exterior of a Kohl's store on January 24, 2022 in San Rafael, California. Kohl's on Thursday named interim CEO Tom Kingsbury to the post on a permanent basis. He took over as interim CEO in December after former chief executive Michelle Gass decided to leave for Levi Strauss. "The Board appreciates our constructive dialogue with Macellum during the last few months and their engagement as we conducted the CEO search process. We look forward to their continued support and partnership," said Michael Bender, a board director at Kohl's.

☆ Kohl's close to naming Tom Kingsbury as permanent CEO - NYT
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: 1 min

Jan 25 (Reuters) - Department store chain Kohl's Corp (KSS.N) is in late-stage talks to name Tom Kingsbury as its permanent chief executive, the New York Times reported on Wednesday, citing two people familiar with the situation. Kingsbury was named interim CEO in December, after Michelle Gass left Kohl's to become the top boss at Levi Strauss & Co (LEVI.N). The appointment will come as the department store chain is struggling with declining sales and greater pressure from activist investors. In November, Kohl's withdrew its 2022 sales and profit forecasts, blaming an uncertain economic outlook and the departure of Gass. Reporting by Mrinalika Roy in Bengaluru; Editing by Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

☆ Kohl's pulls full-year outlook, citing retail volatility and economic headwinds
▼ + stars: | 2022-11-17 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

The Kohl's logo is displayed on the exterior of a Kohl's store on January 24, 2022 in San Rafael, California. Kohl's on Thursday withdrew its full-year outlook, pointing to volatility in the retail environment and significant macroeconomic headwinds, on top of its "unexpected CEO transition." Kohl's also reported third quarter earnings on Thursday, with revenue dropping 7% to $4.28 billion. The company warned investors of this drop in revenue earlier this month when it provided preliminary results for the quarter. Kohl's has been under pressure from activist investors as its sales have declined and its stock has slumped.

☆ Kohl's CEO Gass to leave for top job at Levi Strauss
▼ + stars: | 2022-11-08 | by ( Uday Sampath Kumar | ) www.reuters.com time to read: +2 min

Nov 8 (Reuters) - Kohl's Corp (KSS.N) Chief Executive Michelle Gass will step down and take the helm at Levi Strauss & Co (LEVI.N) amid renewed calls from activist investors for management and board reshuffles at the struggling department store chain. Gass came under renewed pressure from hedge funds Macellum Advisors and Ancora Holdings after Kohl's decided in July to remain independent after exploring a sale. The former Starbucks (SBUX.O) executive, who became Kohl's CEO in 2018, will leave in December to become president at Levi's early next year before taking over from long-time boss Chip Bergh within 18 months. At Levi's, Gass faces the challenge of helping the denim maker navigate out of an inflationary environment that has caused a slump in discretionary spending and hit earnings. Kohl's said Tom Kingsbury, a director nominated by Macellum and Ancora last year, will serve as interim CEO from Dec. 2.

☆ Levi's names Kohl's Michelle Gass as chief executive
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: 1 min

Nov 8 (Reuters) - Levi Strauss & Co (LEVI.N) on Tuesday named current Kohl's Corp (KSS.N) Chief Executive Officer Michelle Gass as its next CEO, replacing Chip Bergh. Gass will leave Kohl's in December to become president of Levi's and will report to Bergh before taking over as chief executive within the next 18 months. Kohl's said Tom Kingsbury, a director on the department store chain's board and former Burlington Stores Inc (BURL.N) chief executive, will serve as interim CEO from Dec. 2. Kohl's shares rose 11% in premarket trading, after it also forecast better-than-expected third-quarter earnings. Reporting by Uday Sampath in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

☆ Levi Strauss CEO says company's search for new leader got help from unlikely source
▼ + stars: | 2022-11-08 | by ( Melissa Repko | ) www.cnbc.com time to read: +1 min

As Levi Strauss & Co. searched for its next leader, it got help from a surprising source. Levi CEO Chip Bergh said pressure from activist investors prompted Kohl's CEO Michelle Gass to consider the job. On Tuesday, Levi announced that Gass will join the company in January as president and become chief executive within 18 months. "She's been through the wars," Bergh told CNBC. Gass has led an embattled Kohl's, which has rebuffed repeated attempts by activist investors to push her out.

☆ 3 takeaways from our daily meeting: Oil in focus, Club names in the news, Disney earnings
▼ + stars: | 2022-11-08 | by ( Krystal Hur | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Oil in focus Quick mentions: TJX, NVDA, EL DIS earnings 1. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

☆ Kohl's CEO Michelle Gass to step down, join Levi Strauss as CEO in waiting
▼ + stars: | 2022-11-08 | by ( Melissa Repko | ) www.cnbc.com time to read: +1 min

Kohl's said Tuesday that CEO Michelle Gass is leaving the company for a new opportunity as its sales continue to fall. In a separate release, Levi Strauss & Co. said Gass will join the company in early January as president and step into the role of CEO within the next 18 months. Kohl's — and Gass — have been under pressure from investors. Its push for new leadership intensified after Kohl's terminated talks this summer to sell to the Franchise Group, owner of The Vitamin Shoppe. The board appointed Tom Kingsbury, a Kohl's director since last year, to serve as interim CEO.

☆ Levi's names Kohl's Michelle Gass as next chief executive
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: +2 min

Nov 8 (Reuters) - Levi Strauss & Co (LEVI.N) on Tuesday named current Kohl's Corp (KSS.N) Chief Executive Officer Michelle Gass as the next CEO of the denim maker, succeeding long-time head Chip Bergh. Gass' departure from the struggling department store chain comes as activist investor groups push for management and board reshuffles, including a change of CEO. Gass will leave Kohl's in December to become president of Levi's early next year, and will take over as chief executive within the next 18 months. Kohl's said Tom Kingsbury, a director who was nominated by Macellum and Ancora last year, will serve as interim CEO from Dec. 2. Kohl's forecast third-quarter earnings of 82 cents per share, compared with analysts' estimates of 64 cents, according to Refintiv IBES data.

☆ What Cramer is watching Tuesday — possible GOP gains, Nvidia bounces, Kohl's CEO out
▼ + stars: | 2022-11-08 | by ( Jim Cramer | ) www.cnbc.com time to read: +5 min

Lyft (LYFT) downgraded to in line from outperform (hold from buy) at Evercore, one of many negative Wall Street notes. Price target cuts: Credit Suisse to $122 per share from $137 and Baird to $120 from $140. Raymond James cuts price target on Palantir (PLTR) to $15 per share from $20 but has strong buy. Meanwhile, multiple price cuts on Celanese. Mizuho cut price target on cloud data provider Snowflake (SNOW) to $185 per share from $225 but keeps buy rating.

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