It’s About To Get Cheaper To Shop At Kohl’s
Kohl's is planning to cut prices and offer more promotions in response to declining sales, company executives said Tuesday.
The company is taking a "surgical approach" to pricing, rather than executing across-the-board cuts, and highlighted the home category as an area that Kohl's is most heavily targeting according to a Business Insider article.
The CEO blamed the disappointing sales performance on unseasonable weather, soft sales in the home category, and ineffective promotions.
Higher tariffs could complicate the company's plans to lower prices. But the company will avoid passing higher costs onto consumers according to the CEO.
In addition to more competitive pricing, Kohl's is also looking to its new partnership with Amazon to drive up traffic and sales. The partnership will allow customers to make Amazon returns at Kohl's stores nationwide.
The company is planning to hire more workers in stores and logistics to support the initiative.