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Kohl's CEO Tom Kingsbury to step down in January, to be replaced by Michaels CEO Ashley Buchanan

Kohl's announced that CEO Tom Kingsbury will step down on January 15, 2025, and Ashley Buchanan, the CEO of Michaels, will replace him.
Kingsbury, who has been with Kohl's since December 2022, will serve as an advisor until his retirement in May 2025.
Bender stated that Buchanan's experience as CEO of Michaels will provide Kohl's with "a steady, proven, innovative leader" amid the company’s current turmoil.

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Best Life

Shoppers Are Still Abandoning Kohl's—Here's Why

Kohl’s CEO Tom Kingsbury is “not satisfied” with where the company financially stands heading into the holiday season—a time that historically gives retailers a monetary cushion going into the new year. However, the company has failed to come up for air due to diluted net sales year after year. In a press release, Kingsbury said the company’s third-quarter fiscal results “did not meet our expectations” and “sales remained soft.” Now, Kohl’s is “…

3 months ago

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The Motley Fool

8 Kohl's Exclusive Products Everyone Should Know About

Did you know that Kohl's offers exclusive deals on fashion brands, toys, and household goods? See our picks for well-rated, low-cost Kohl's deals.

3 months ago·Alexandria, United States

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DNyuz

Kohl’s vows ‘aggressive action’ to reverse sliding sales following a ‘frankly disappointing’ quarter

Kohl’s continues to fight an uphill battle after sales tumbled following missed opportunities, a decline in footfall, and an overreliance on its partnership with Sephora. Comparable sales at the department store chain fell 9.3% in the three months to November 2, which CEO Tom Kingsbury called “frankly disappointing” despite attempts to improve its products, strategy, and in-store experiences. Sales remained soft in apparel and footwear despite s…

3 months ago

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Wisconsin State Journal

Best Buy sales drop again, Kohl's Corp. sees slump deepen with CEO change set for January

“Our third quarter results did not meet our expectations as sales remained soft in our apparel and footwear businesses,” Kohl’s CEO Tom Kingsbury said in a statement.

3 months ago·Madison, United States

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Fast Company

‘We are not satisfied’: Kohl’s stock tumbles amid slumping sales and gloomy forecast for 2024

In the days before Thanksgiving, retail investors want reasons to be hopeful—after all, we’re about to enter the busiest shopping period of the year. But for Kohl’s investors today, that hope seems to be in short supply. The department store chain’s stock (NYSE: KSS) is plummeting in early trading in the wake of some worrisome news. As of the time of this writing, KSS shares are down a dizzying 20%. What’s driving the selloff? There are a few l…

3 months ago

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sherwood.news

Kohl’s plunges after it posts gloomy earnings and swaps CEOs

The third quarter of the year is an important time for retailers, marking the last round of information investors get until after the holiday season, the industry’s Super Bowl. So it stands to reason that...

3 months ago

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