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☆ Yoga wars heat up as Levi's Beyond Yoga taps former Athleta CEO, Gap veteran as next chief executive
▼ + stars: | 2024-01-19 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +2 min

Beyond Yoga's founder Michelle Wahler, along with its Chief Operating Officer and Chief Financial Officer Jesse Adams, will both be stepping down. "We have arrived at a natural inflection point for this incredible brand," Levi's incoming CEO Michelle Gass said in a statement. Retailers such as Lululemon and Nike have long dominated the category, with Beyond Yoga and Gap-owned Athleta following close behind. But upstarts such as Alo Yoga and Vuori have been nipping at their heels and taking market share. In August, Athleta named former Alo Yoga President Chris Blakeslee its next CEO.

Persons: Levi Strauss, Nancy Green, Alo Yoga, Michelle Wahler, Jesse Adams, Wahler, Adams, Michelle Gass, Nancy, BTIG's Janine Stichter, Earnest, Athleta, Chris Blakeslee Organizations: Nike, Yoga, Beyond Yoga Locations: Athleta

CHANNELVIEW, Texas — For nearly 20 years, Texas environmental regulators have kept a disturbing secret. AdvertisementTexas Community Health News; Texas Commission on Environmental Quality"Any exposure to a carcinogen increases your risk of developing cancer. AdvertisementTim Doty, a former TCEQ mobile air monitoring expert, at the industrial edge of River Terrace Park in Channelview, Texas. In fact, the agency rarely fines companies that violate Texas air pollution laws. Mark FelixHoneycutt's toxicology division soon took an even more dramatic step to weaken Texas' benzene guidelines.

Persons: Loren Hopkins, Hopkins, Mark Felix, TCEQ, AirToxScreen, AirToxScreen Harris County Attorney Christian Menefee, Menefee, Tim Doty, Doty, Solv, He'd, Glenn Shankle, Kelly Keel, Todd Riddle, Riddle, Lopez, Joe Lopez, Dora, Joel Lopez, Randy Lopez, It's, Joel, Felix Benzene, wildcatters, Houston —, Forbes, Lorenzo de Zavala, Alison Cohen, Cohen, Tim Doty's, Houston Mayor Bill White, Shankle, Michael Honeycutt, Valerie Meyers, Meyers, Mark Felix Meyers, Richard Hyde, John Sadlier, Ryder, Hyde, hadn't, Russell Allen, Matt Baker, Jacintoport, Cloelle Danforth, Public Health Watch —, Danforth, Mark Felix Honeycutt's, Eric Schaeffer, Schaeffer, Honeycutt, Jim Tarr, polluters, upended, Mark Felix Fracking, Barnett, Glenn Shankle —, —, Rick Perry, Perry, Sadlier, David Bower, misstep, Baker, Bower, Michael Burgess, Greg Abbott, Abbott, Mark Felix Meanwhile, Randy, That's, Carolyn Stone, Stone, Carolyn Stone's, Mark Felix The, Cynthia Benson, Benson, Mark Felix Tim Doty, Mark Felix K, Jordan Gass Organizations: Public Health Watch, Texas Commission, Environmental, American Petroleum Institute, Oceanic, Atmospheric Administration, U.S . Navy, Geospatial - Intelligence Agency, General, Health, Public Health, Rice University, Environmental Protection Agency, Texas Community Health, AirToxScreen Harris County Attorney, polluters, Mark Felix Public Health, TCEQ, Solv, Mark Felix Public Health Watch, myelodysplasia, Houston, Oil, Gas Watch, Texas, Houston Ship, University of California, Houston Mayor, ., . Texas Community Health, NASA, Exxon Mobil, Public, Watch, Environmental Defense Fund, Management, Civil, Air Alliance Houston, Republican, Fort, United, Texas toxicologist, EPA, Texas Tribune, Google, Land Office, . Geological Survey, National Oceanic, Firefighters, U.S . Occupational Safety, Health Administration, Channelview, Improvement Coalition, Health Watch, San Jacinto, K, Texas Legislature, Solv Group, Services Locations: , Texas, Texas, Houston, Channelview's Jacintoport, San Jacinto, California, Jacintoport, Channelview , Texas, AirToxScreen Harris County, Channelview, Harris County, United States, North Channelview, Gulf, Terrace, Joel's, Houston , Texas, Spindletop, Mexico, Republic of Texas, Port of Houston, San Francisco, . Texas, That's, polluters, lacquers, Dallas, Fort Worth, Fort Worth City, Austin, Round, Minnesota, Galveston, U.S

☆ 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

☆ Levi Strauss cuts full-year sales forecast again, as inflation takes a toll
▼ + stars: | 2023-10-05 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +5 min

It said it anticipates adjusted earnings per share to be on the low-end of the previously shared range of $1.10 to $1.20. Those retailers, which buy wholesale items from Levi to carry on their stores and websites, have seen weaker discretionary sales. For Levi, direct sales and international sales have been the stronger parts of its business. Like Nike , Levi has tried to control its own destiny by driving more of its overall sales through its own stores and website. Along with driving more direct sales, Levi is looking to expand in international markets.

Persons: LEVI, Sean Gallup, Levi Strauss, Chip Bergh, Harmit Singh, Levi —, Levi, Bergh, Denizen, Michelle Gass, Chip Bergh Levi Strauss Organizations: Getty, U.S, CNBC, LSEG, Walmart, Target, Nike Locations: U.S, Target, Asia, America, North America, Europe, Mexico, India, Macy's

☆ Levi's CEO fired more than half of his execs during his first 18 months in the role and regrets not letting go of some staff more quickly
▼ + stars: | 2023-09-27 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Bergh became CEO of Levi's in 2011 at a time when sales and brand loyalty were faltering. "The easiest way to change the culture is to change the people," Bergh told CNBC in an interview. Bergh became president and CEO of the company in 2011 when sales were faltering and brand loyalty was fading. Although he had a tough stance on firing, Bergh said that there were still times when he didn't act quickly enough to remove people who weren't the right fit. When asked about his biggest regrets, Bergh replied: "This is a corny saying and it gets said a lot, but probably not exiting people soon enough when I knew that there was something not right."

Persons: Charles Bergh, Bergh, —, Levi Strauss, Chip Bergh, CNBC's Christine Tan, Tan, " Bergh, it's, Michelle Gass Organizations: CNBC, Service

☆ 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.

☆ Jim Cramer's top 10 things to watch in the stock market Monday
▼ + stars: | 2023-04-10 | by ( Jim Cramer | ) www.cnbc.com time to read: +5 min

Club holding Pioneer Natural Resources (PXD) is the biggest independent oil exploration and production (E & P) play. Club holding Constellation Brands (STZ) reported an excellent quarter last week and gave you an 11% dividend increase. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

☆ 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 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 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.

☆ Bank of America downgrades Levi Strauss, says upside is hard to see with discounts and sliding denim demand
▼ + stars: | 2023-01-18 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Sliding demand for denim and a continued reliance on markdowns make it hard to expect outperformance from Levi Strauss , Bank of America said Wednesday. Peers such as American Eagle and Abercrombie & Fitch have said denim demand is down as consumers moved to other styles. Nardone said Levi Strauss will outperform the broader industry in denim sales, but will still struggle in the first half of the year to meet sales from the same period a year before. Nardone said elevated third-quarter inventory and a planned software transition in the first half of this year could elongate Levi Strauss' timeline for finding better footing. Ultimately, he said Levi Strauss is "a strong retailer with an attractive store growth plan" and doesn't foresee any disruptions once Michelle Gass takes over as CEO .

Sale-leasebacks allow retailers to raise capital without shedding stores by selling the underlying real estate and turning them from landlords into tenants. They also point out that companies often spend the money on share buybacks and dividends rather than investing in their business. Spokespeople for Kohl's, Macellum and Ancora declined to comment. It is not clear how many of Kohl's 1,100 stores would have been involved in any deal. Reuters GraphicsRENT EXPENSESIn a letter to shareholders in March defending its strategy against criticism from hedge fund Macellum Capital Management LLC, Kohl's said that a "large" sale-leaseback would "negatively impact margins by adding unnecessary rent expenses in perpetuity and risk Kohl's investment-grade rating".

Organizations: & $

Several other Fed officials in recent days have also stressed the need to continue raising rates, albeit at a slower pace. "The Fed is trying to make sure the market doesn't get too ahead of itself," said Tim Holland, chief investment officer at Orion Advisor Solutions. "They're trying to walk this rhetorical tightrope where in between meetings and big data points, they're reminding the market that they're still tightening." Traders are now pricing in 89% odds of a 50-basis-point rate hike from the Fed in December and see terminal rate at around 5% in June 2023. The S&P index recorded no new 52-week high and one new low, while the Nasdaq recorded 12 new highs and 101 new lows.

Softer-than-expected inflation data in recent days had boosted expectations of smaller interest rate increases, but strong retail sales figures on Wednesday stoked fears that the Fed could keep tightening the monetary policy further. Several other Fed officials in recent days have also stressed on the need to continue raising interest rates, though at a slower pace. Wall Street closed the previous session lower as a grim outlook from Target Corp (TGT.N) sparked concerns about retailers heading into the crucial holiday season. ET, Dow e-minis were down 384 points, or 1.14%, S&P 500 e-minis were down 52.5 points, or 1.32%, and Nasdaq 100 e-minis were down 177.5 points, or 1.51%. U.S.-listed shares of Alibaba Group Holding Ltd fell 2.1% after the Chinese e-commerce giant posted a smaller-than-expected rise in quarterly revenue.

☆ Kohl's withdraws annual sales, profit forecasts
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +1 min

Nov 17 (Reuters) - Kohl's Corp (KSS.N) withdrew its 2022 sales and profit forecasts on Thursday, blaming an uncertain economic outlook and the departure of top boss Michelle Gass. Kohl's has struggled to attract shoppers despite steep discounts to clear excess inventory, as Americans cut back spending on apparel and other discretionary purchases amid decades-high inflation. Its third-quarter comparable sales fell 6.9%, in line with analysts' estimates, according to Refinitiv IBES data. Net income fell to $97 million, or 82 cents per share, compared with $243 million, or $1.65 per share, a year earlier. Reporting by Deborah Sophia in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

☆ Stocks making the biggest moves premarket: Macy's, BJ's Wholesale, Kohl's and others
▼ + stars: | 2022-11-17 | by ( Peter Schacknow | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines before the bell:Macy's (M) – Macy's stock leaped 9.6% in the premarket after the retailer reported better-than-expected profit and revenue. BJ's Wholesale (BJ) – BJ's added 2.4% in premarket trading after beating analyst forecasts on both the top and bottom lines for its latest quarter. The warehouse retailer also reported better-than-expected comparable store sales and raised its full-year forecast. Alibaba (BABA) – The China-based e-commerce giant reported better-than-expected earnings but revenue fell short of analyst forecasts. Norwegian Cruise Line (NCLH) – The cruise line operator's stock slid 5% in premarket trading after a double-downgrade from Credit Suisse to underperform from outperform, with the firm citing a number of factors including valuation.

☆ Shoppers are pulling back at Macy’s and Kohl’s
▼ + stars: | 2022-11-17 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

That’s squeezing Macy’s, Kohl’s, Target and other chains. Macy’s (M) sales dropped 3.1% last quarter from a year ago, while Kohl’s (KSS) tanked 6.9%. “Consumers are showing increasing signs of stress and pulling back from discretionary purchases,” Target CEO Brian Cornell said on an earnings call. Although Macy’s own store sales fell 4.4% last quarter, Bloomingdale’s sales grew 5.3% and Bluemercury’s increased 14%. Macy’s stock gained 12% Thursday as the results exceeded analysts’ forecasts.

☆ 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.

☆ Michelle Gass' lengthy retail experience is why she'll be CEO at Levi Strauss, says current CEO
▼ + stars: | 2022-11-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMichelle Gass' lengthy retail experience is why she'll be CEO at Levi Strauss, says current CEOChip Bergh, current Levi Strauss CEO, joins 'Closing Bell' to discuss Michelle Gass leaving Kohl's and stepping into Levi Strauss, what he would tell investors about Gass's potential success at Levi Strauss and more.

☆ 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.

☆ Kohl’s CEO Michelle Gass Resigns to Join Levi Strauss
▼ + stars: | 2022-11-08 | by ( Suzanne Kapner | ) www.wsj.com time to read: 1 min

Michelle Gass, who took over as Kohl’s CEO in 2018, will step down next month. Kohl’s Corp. Chief Executive Michelle Gass is leaving the department-store chain early next month to join Levi Strauss & Co. with plans to have her take over as the jeans maker’s CEO. At Kohl’s, Ms. Gass has been under attack from activist investors for sales declines and a steep drop in the company’s stock price. In September, activist investor Ancora Holdings Inc., urged the company to replace Ms. Gass and its chairman. Kohl’s shares, down nearly 40% on the year, jumped 8% in early Tuesday trading.

☆ 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 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.

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