Kohl’s Corp’s Q3 sales numbers may not be something the American fashion retailer will be happy about! However, it is still better than the last quarter.
Though the third quarter revenue for the retailer has slumped by 13 per cent year-over-year (Y-o-Y), it is much better than 22.9 per cent fall in the last quarter.
While corroborating more on the same, CEO Michelle Gass said that sales picked up in September and October after back-to-school sales were hit badly. The retailer hopes the trend of improved sales to continue all through the holiday period.
The retailer saw its same-store sales drop by 13.3 per cent in Q3 ended 31 October. That’s contrary to analyst’s prediction of 12.3 per cent.
Meanwhile, Kohl’s has also said that it plans to increase the activewear and casualwear segment from 20 per cent to over 30 per cent – expectedly so as the segment has been doing well for the retailer during the pandemic.
Despite the uncertainty due to pandemic, 2021 might just begin well for the retailer now that it has plans for its most selling apparel segment.
Besides, March will also see the launch of its own activewear brand Flex and that is being eagerly awaited by Kohl’s lovers.
The clothing and footwear retailer generated US $ 20.229 billion in 2018.