Kohl Department Stores (Menomonee Falls, Wisc.) will focus on private labels and name brands to boost sales. Speaking last week to The Wall Street Journal, cfo Wes McDonald said, “Our biggest issue has been sales … We have lost some traction with our core customers as the place to get great brands they recognize.”
Kohl’s ceo Kevin Mansell spoke of “a new path forward” at the company’s annual meeting this month and of a branding focus, versus discounting. The future of the company will be built on names like Chaps and Dana Buchman, rather than on lower-end lines or bargain prices. “There is a general consensus that people are buying more opening price points or private brands, not just in apparel but in food and other categories,” Mansell told Reuter’s News Service. “In our case, our biggest growth has come in our exclusive brands, which typically are better and best price points. Consumers who [are] trying to stretch their dollar [are] really looking more for best value, not necessarily the lowest price.”