×
73 599
Fashion Jobs
MICHAEL KORS
District Manager, Retail Development- Los Angeles, ca
Permanent · Remote
MICHAEL KORS
Sales Supervisor (pt) - The Woodlands Mall
Permanent · Houston
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time - Glendale
Permanent · Glendale
JCPENNEY
Asset Protection Associate - Plaza Bonita
Permanent · National City
JCPENNEY
Sales Floor Supervisor - South Park Mall
Permanent · San Antonio
JCPENNEY
Asset Protection Associate - Alderwood Mall
Permanent · Lynnwood
JCPENNEY
Sales Floor Supervisor - Washington sq
Permanent · Portland
JCPENNEY
Sales Floor Supervisor - Great Lakes Mall
Permanent · Mentor
ON RUNNING
sr Financial Analyst - Commercial Finance
Permanent · PORTLAND
ON RUNNING
Finance Systems Specialist
Permanent · PORTLAND
REISS
Area Visual Manager- South East
Permanent · MIAMI
URBN
Anthropologie Visual Merchandising Manager
Permanent · NEW YORK
URBN
Free People Assistant Visual Manager
Permanent · MIAMI
URBN
Free People Merchandise Planner
Permanent · PHILADELPHIA
SACK OFF 5TH
Asset Protection Investigator
Permanent · RIVERHEAD
BANANA REPUBLIC
Manager, Marketing Operations
Permanent · SAN FRANCISCO
OLD NAVY
Asset Protection Service Representative - Shops at Bruckner bl
Permanent ·
GAP INC.
sr Analyst, Finance - Forecast & Budget (Remote)
Permanent · ALBUQUERQUE
OLD NAVY
General Manager-Arsenal Yards
Permanent · WATERTOWN
CROCS
Crocs: Retail Area Manager Boston, ma
Permanent · BOSTON
NORDSTROM
Asset Protection - Agent - Midtown Mall Rack
Permanent · Anchorage
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time - Glendale
Permanent · GLENDALE
By
Reuters
Published
May 19, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Kohl's exits Jennifer Lopez, other women's brands as losses mount

By
Reuters
Published
May 19, 2020

Kohl’s Corp said the coronavirus crisis would have a material impact on results this year as it removed eight brands including Jennifer Lopez, Juicy Couture and Popsugar from its stores and warned demand for women’s apparel would remain weak.


Image: Kohl's




Shares in the department store chain, which shut stores across the United States due to lockdowns to halt the pandemic, fell about 8% after it reported a bigger-than-expected first-quarter loss.

The mid-priced chain reported a 24% surge in online sales in the quarter and more than 60% in April and said it had now reopened nearly half its U.S. stores as lockdowns eased.

For the quarter ended May 2, however, net sales fell about 44% to $2.16 billion and the company reported a net loss of $541 million.

Excluding items, it lost $3.20 per share, far worse than forecasts of a $1.80 loss, according to Refinitiv data.

“Our financial performance, like many other retailers, will be materially impacted by COVID-19 in 2020,” Chief Executive Officer Michelle Gass told a post-earnings call.

The results follow bankruptcy filings by peers J.Crew, Neiman Marcus and J.C. Penney on the back of huge losses racked up in the two months since U.S. states began issuing stay-at-home orders.

Kohl’s had been struggling in women’s apparel even before the pandemic as consumers shifted to online shopping and fast-fashion brands.

“Exiting them (the 8 brands) will create focus and clarity on the brands that will continue,” Gass said. “We’re still highly committed to the women’s business. In the short term, we’re facing some challenges here.”

Kohl’s, which has partnered with Jennifer Lopez for about a decade and began selling Juicy Couture in stores in 2014, will also cease selling Dana Buchman, Mudd, Candie’s, Rock And Republic and Elle.

© Thomson Reuters 2023 All rights reserved.