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Kohl's has a new plan to fight Walmart

TheWorldNewsOrg

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Department store Kohl’s will join forces with grocery and convenience stores to fill empty space in its stores, CNBC reports. Roughly 300 stores have been “right-sized” over the past few years, meaning they were made operationally smaller. Kohl hopes bringing in grocers or other retailers could generate more foot traffic. It would also help it compete against the likes of Target and Walmart.



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      It was a better day for Michelle Gass, who is set to take over for Kevin Mansell as Kohl’s (+0.13%) new CEO. 
      She joined Kohl’s in 2013 after two impressive decades at Starbucks. Gass quickly took the reins of Kohl’s businesses in the Middle East, Europe, and Africa in addition to launching cost-cutting programs that will save the company $250 million over the next three years. It’s no daily business newsletter, but it is a pretty impressive resume.
      That said, Kohl’s shares are down 6.4% this year and Ms. Gass will be responsible for 1,100 stores and over $19 billion in annual revenue. Outgoing CEO Kevin Mansell believes she’s up to the task.




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