Kohl’s Projects Robust Sales as Macellum Questions Results
- Retailer raises its earnings expectations, focuses on Sephora
- Macellum says sales shortfall shows strategy ‘is not working’
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Kohl’s Corp., under pressure by activist investors, gave an optimistic outlook for the year while reporting weaker-than-expected sales in the fourth quarter.
The company is expanding its venture with cosmetics chain Sephora after a shop-in-shop concept drove higher sales at participating locations. Kohl’s executives added on a call with analysts Tuesday that Sephora is attracting new customers who are younger and more diverse. By the end of the year, more than half of Kohl’s locations will have a Sephora store within it.