The company announced on Tuesday that sales in stores open at least one year in the last quarter increased by 0.4%. Kohl's profit declined 24% year-over-year in the quarter, and the retailer lowered its outlook for vacation purchases. It was the second time that Kohl's forecast was cut this year.
CEO Michelle Gass tried to use the results as much as possible. "We are entering the vacation period with momentum," she said in a prepared statement.
The results suggest that Kohl's rework strategies are falling behind.
Gass, the CEO of Kohl, has taken a proactive approach to redesign the retailer's more than 1,150 stores for the online shopping era. Kohl's is considered by many analysts to be better positioned than Macy's, JCPenney and other brands in shopping malls, as most Kohl's stores are not in shopping malls.
Kohl & # 39; s has teamed up with Amazon to offer free returns to store customers. Gass said earlier this year, the launch of Amazon in all stores was the company's "single biggest initiative" of the year.
But to survive, Kohls may need to get bigger.