Kohl's to open 100 small-format stores, expand Sephora shops
ABC News
Department store chain Kohl’s said it aims to increase sales by a low-single-digit percentage annually, with plans to open 100 new small-format stores in the next four years and expand its Sephora-branded shops to 850, among other moves
NEW YORK -- Department store chain Kohl's said it expects to increase sales by a low-single-digit percentage annually, with plans to open 100 new small-format stores in the next four years and expand Sephora-branded shops to 850, among other moves.
Kohl's announced its long-term goals on Monday ahead of the company's annual investor meeting as it faces increasing pressure from activist investors.
“Kohl’s is undergoing a significant transformation of our business model and brand to be the retailer of choice for the active and casual lifestyle,” said Kohl's CEO Michelle Gass said in a statement.
As part of its plans to spearhead sales growth, Kohl's said it forecasts its Sephora business to become a $2 billion juggernaut. It also said it's rolling out self-serve buy online, pick up in store areas to all stores this year, and is continuing to test self-serve returns and check-out sections.
