Kohl's Promotes Value to Middle-Income Consumers Buffeted by Inflation
Kohl’s(KSS) PYMNTS.com·2024-05-31 00:00
Kohl's is looking to boost its sagging sales by promoting value to consumers who have been buffeted by high interest rates and inflation. During the quarter ended May 4, the retailer's net sales decreased 5.3% year-over-year and its comparable sales declined 4.4%, according to a Thursday (May 30) earnings release. Kohl's attributed the drop in part to a reduction in clearance sales, which more than offset an increase in regular price sales. "As it relates to the consumer backdrop, our customers continue to ...