Kohls Corp - KSS STOCK NEWS

Kohl's (NYSE: KSS) has successfully completed the installation of more than 850 Sephora at Kohl's locations, meeting its initial rollout target. With the addition of 250 stores in 2023, Kohl's aims to enhance customer experiences and drive sales through these Sephora outlets. The partnership reported nearly 8 million beauty product sales in 2022, with a projected $2 billion in annual sales by 2025. Celebrated for strong performances in beauty sales, Kohl's will open 50 smaller Sephora formats by year-end. The ongoing expansion further strengthens Kohl's position in the beauty market and attracts new customers.

Kohl’s Corporation (NYSE:KSS) reported a challenging fourth quarter for 2022, with net sales down 7.2% to $5.8 billion and comparable sales decreasing by 6.6%. The company faced an operating loss of $302 million, contrasting sharply with an operating income of $450 million last year. Net loss for the quarter was $273 million, translating to a diluted loss per share of ($2.49). The fiscal year saw a similarly tough environment, with total net sales dropping 7.1% to $17.2 billion. For 2023, Kohl's anticipates a further sales decline of 2% to 4% and earnings per share between $2.10 and $2.70, while committing to maintain its dividend and reduce debt.

Kohl's (NYSE: KSS) has appointed Dave Alves as President & Chief Operating Officer, effective April. Alves brings over 30 years of retail experience, previously serving at Bealls Retail Group and holding roles at TJX Canada and Hudson's Bay. In his new role, he will oversee Kohl's operations, including nearly 1,200 stores and global supply chain management. CEO Tom Kingsbury expressed excitement about Alves joining the leadership team, emphasizing the company's commitment to evolving its business strategy for modern consumers. This leadership change aims to enhance Kohl's market position and customer experience.

Kohl’s Corporation (NYSE: KSS) declared a quarterly dividend of $0.50 per share on February 21, 2023. The dividend will be payable on March 29, 2023, to shareholders on record by March 15, 2023. This move showcases the company’s commitment to returning value to its shareholders, reflecting confidence in its ongoing operations.

Kohl's is a major omnichannel retailer with over 1,100 stores and a robust online presence. As it continues to focus on delivering value through its diverse offerings, it also prioritizes ESG stewardship in its operational strategy.

Kohl's (NYSE: KSS) has appointed Nick Jones as Chief Merchandising and Digital Officer, effective March. Jones brings over 25 years of retail experience, previously serving as CEO of Joules Group and Chief Merchant at ASDA/Walmart UK. His role will focus on developing Kohl's merchandise strategy to enhance the active and casual lifestyle offerings, including overseeing product design and portfolio strategy. CEO Tom Kingsbury expressed confidence in Jones, highlighting his extensive background in merchandising and business leadership to drive innovation and customer engagement.

Kohl's (NYSE: KSS) has announced a $750,000 donation to Hunger Task Force to combat food insecurity in Milwaukee. This funding aims to provide 10 truckloads of food and support over 31,000 individuals monthly through a network of 68 food pantries and summer meal programs for children. Since 2009, Kohl's has contributed over $10 million to the cause. Hunger Task Force estimates about 30% of children in Milwaukee live in poverty. The ongoing partnership highlights Kohl's commitment to community support, providing a significant number of meals and food distributions, including 9.5 million pounds of food in 2022.

Kohl’s Corporation (NYSE: KSS) has appointed Tom Kingsbury as Chief Executive Officer, effective February 2, 2023. Kingsbury, who served as Interim CEO since December 2, 2022, brings over 40 years of retail experience, including leadership roles at Burlington Stores. The Company has also established a cooperation agreement with Macellum Advisors, which now includes multi-year standstill provisions, ensuring continued collaboration. Board Chair Peter Boneparth expressed confidence in Kingsbury's ability to enhance sales and profitability, while investor sentiments are positive regarding the leadership change.