Dive Brief:
- Continuing its sales after Thanksgiving weekend, Kohl’s is offering discounts through Dec. 24 on holiday gifts and decor, including 20% off of purchases until Dec. 10. The retailer is also adding additional markdowns for Kohl’s Card shoppers and providing more opportunities to earn Kohl’s Cash coupons on qualifying holiday items, the retailer announced on Thursday.
- The retailer also said that it is extending its store hours between Dec. 15 and Dec. 22 at most of its locations from 8 a.m. until midnight local time. On Dec. 23, the stores will open at 7 a.m. until midnight. On Christmas Eve, the stores will operate from 7 a.m. to 6 p.m., according to the release.
- The retailer is also hosting its Sephora Gifts for All event through Dec.10, during which customers can get 20% off their Sephora purchase at Kohl’s and 30% off Sephora collection purchases.
Dive Insight:
With its various December discounts, Kohl’s is trying to attract customers during the busy holiday season after a challenging year.
The retailer reported a 3.3% dip in net sales year over year in its first quarterly earnings report. That decline continued into its second quarter, during which the company saw its net sales decrease by 4.8% and net income plunged nearly 60%. In Q3, Kohl’s reported a third consecutive drop in net sales by 5.2% year over year to $3.8 billion.
Additionally, in a Securities and Exchange Commission filing last month, Kohl’s said its President and COO Dave Alves, exited the company after joining in April. During a call with analysts, Kohl’s CEO Tom Kingsbury said that the company will not replace Alves’ role.
A bright spot for Kohl’s has been its partnership with Sephora. After it announced the rollout of Sephora shop-in-shops at 850 Kohl’s locations, the retailer has since said that it would add them to all of its 1,100 stores. In May, Kingsbury said that the shop-in-shops generated a 150% spike in beauty sales last year.
