Kohl’s Corp forecast a bigger drop in annual comparable sales than expected on Tuesday, piling on more pressure on new boss Ashley Buchanan as he engineers a turnaround at the U.S. department store chain struggling with uneven demand. Shares of the apparel retailer fell 10per cent before the bell. Kohl’s joins larger rival Macy’s and…
Lululemon Athletica Inc on Thursday forecast fourth-quarter results below expectations, striking a cautious tone for the holiday season and sending shares of the premium apparel retailer down 2% in extended trading. The forecast, after a strong third-quarter show, mirrors sentiments from other U.S. retailers such as Walmart, Best Buy and Kohl‘s which have hinted at…
Levi’s CEO Chip Bergh NEW YORK: Levi Strauss & Co. said Thursday that its CEO will step down in January and hand over the reins of the jeans maker to his appointed successor. Chip Bergh, 66, will cede the CEO job to Michelle Gass, 55, who left her CEO role at Kohl’s to become president…
New York: JCPenney said Thursday it plans to spend more than $1 billion by the end of 2025 in a bid to revive the storied but troubled 121-year-old department store chain. The money is going toward remodeling JCPenney stores, upgrading its online shopping site and app, and making its supply network more efficient so that…
Kohl’s Corp beat estimates for quarterly profit on Wednesday, as leaner inventories, lower costs and fewer discounts helped the department store chain counter a broader retail slowdown. Shares of Kohl‘s, which fell more than 10% on Tuesday, were up 3.5% as the company joined peer department store operator Macy’s to also back its 2023 forecasts….
