Kohl's CEO sounds the alarm on key customer problem
Ashley Buchanan took the department store chain's top job in January and sees a 'solid foundation" but identified a key problem.
Kohl's has struggled to find an identity in a quickly changing retail world.
It simply takes more effort to get people to leave their homes and visit a store. Kohl's (KSS) has tried to address that by giving customers more reasons to visit.
Those have included things like taking Amazon returns and adding Sephora stores to many of its locations.
Ashley Buchanan, who served as CEO of Michaels and top jobs at Walmart's Sam's Club and Walmart itself, took the helm as Kohl's CEO in mid-January. He hit the ground running and shared his evaluation of the retailer during its fiscal-fourth-quarter earnings call.
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"It is very clear to me that Kohl's is built on a solid foundation that includes operating more than 1,100 conveniently located stores nationwide, serving over 60 million customers with 30 million of those customers being Kohl's loyalty members," he shared.
That has encouraged the new CEO, who says the Menomonee, Wis., company is on the right path.
