Look at Kohl’s.
- Prior to joining Kohl’s, new CEO Michelle Gass, spent 17 years at Starbucks and began her career with Proctor & Gamble.
- Kohl’s recently appointed president, Sona Chawla, spent 7 years at Walgreens as president of ecommerce.
- Chief Merchanding Officer, Doug Howe joined the company from QVC.
- And Chief Marketing Officer, Gregg Revelle, served at Best Buy, AutoNation & Expedia prior to joining Kohl’s.
Really? What do they know about general merchandising?
A lot. Kohl’s shares are up an impressive 30% in 2018 – during a “retail apocalypse.”
Kohl’s has shops where customers can return their Amazon purchases, and buy Amazon Echo, Fire & Kindle devices. Crazy? Like a fox. It’s doubtful that Kohl’s is creating new Amazon customers, and the store is generating increased traffic & loyalty.
Want groceries with your comforter set? Aldi will open supermarkets inside Kohl’s doors as part of a new partnership. Strange bedfellows or clever collaboration? Credit Kohl’s with innovation and a focus on fundamental retail metrics – driving increased sales with less inventory – better turn, less dilution.
And, the company is well positioned to gain market share from recently departed retailers Bon-Ton, Toys R Us and Babies R Us.
(c) David J. Katz, 2018