[ad_1]
Menomonee Falls, Wis. – A shake-out at Kohl’s headquarters has eliminated dozens of positions, primarily in merchandising and marketing.
According to reports from the Milwaukee news outlets, Kohl’s has reorganized some leadership roles and positions. In the process, it cut less than 60 positions.
“Today, Kohl’s reorganized parts of our organization to drive greater efficiency in our operations,” said Jen Johnson, Kohl’s senior vice president, in a statement attained yesterday by the Milwaukee Journal Sentinel.
The cuts come as Kohl’s is wrapping up its fiscal fourth quarter and working toward naming a permanent CEO to replace Michelle Gass, who exited in early December to take a job at Levi Strauss. Interim CEO Thomas Kingsbury is likely to become Kohl’s next CEO, according to reports from the New York Times and others.
During the first nine months of the fiscal year (ended Oct. 29, 2022), Kohl’s net income plummeted 60% as net sales pulled back 6.6%. In mid-November, Kohl’s yanked its guidance for the full year, citing a recent downturn in sales.
Kohl’s said at the time that its core middle-income shoppers were purchasing fewer items per trip and trading down to value-oriented private brands.
The company is expected to report its Q4 and full-year results in late February or early March.
See also:
[ad_2]
Source link
