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By
Reuters
Published
Mar 22, 2017
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Kohl's Corp CEO says retailer needs to change faster

By
Reuters
Published
Mar 22, 2017

Kohl's Corp's chief executive officer said on Tuesday the department store operator needs to "change faster" in order to remain a strong competitor to online and brick-and-mortar retailers.

"We aren't as agile as we need to be in order to be a better competitor," CEO Kevin Mansell said at retail conference Shoptalk.



Mansell does not see a smaller store footprint making Kohl's more productive in the future but he does expect stores to become smaller in size over time.

"Having a bigger physical presence is a much better strategy than having less," he said.

Kohl's sales during the holiday quarter fell for the fourth straight quarter. The company has been hurt by a steady rise in online shopping and the growing popularity of off-price retail chains like T.J. Maxx and Marshalls stores, operated by TJX Companies Inc.

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