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Kohl's Corp CEO says retailer needs to change faster

Published 03/21/2017, 06:35 PM
Updated 03/21/2017, 06:40 PM
© Reuters.  Kohl's Corp CEO says retailer needs to change faster

LAS VEGAS (Reuters) - Kohl's Corp's (N:KSS) chief executive officer said on Tuesday the department store operator needs to "change faster" in order to remain a strong competitor to online and brick-and-mortar retailers.

"We aren't as agile as we need to be in order to be a better competitor," CEO Kevin Mansell said at retail conference Shoptalk.

Mansell does not see a smaller store footprint making Kohl's more productive in the future but he does expect stores to become smaller in size over time.

"Having a bigger physical presence is a much better strategy than having less," he said.

Kohl's sales during the holiday quarter fell for the fourth straight quarter. The company has been hurt by a steady rise in online shopping and the growing popularity of off-price retail chains like T.J. Maxx and Marshalls stores, operated by TJX Companies Inc (N:TJX).

Latest comments

Mansell's comments about smaller stores and faster ramp up to e com, makes me laugh out loud. are you kidding? so mansell makes his store smaller and could rent out the extra space to bezos for smaller amazon retail/shipping hubs i guess mansell means? oh yeah, i'm not a KSS shareholder for whatever that's worth.
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