Kohl’s posted Q4 profit and sales beyond market expectations
What: the retailer is doubling down on its online business
Why is it important: Kohl's bets on activewear for growth
Americans have loaded their online shopping carts with not just essentials but also leisure goods. As consumers bought everything from leggings and sweatshirts to kitchen electrics, the company’s digital sales surged to account for 42% of net sales in the fourth quarter.
Overall net sales declined 10% to USD 5.88 billion in the quarter, but was above expectations of USD 5.86 billion.
Kohl’s is betting on the rise in demand for activewears such as running shoes and workout clothes. The company is planning to increase the space for such products in its outlets by adding brands such as Eddie Bauer and expanding those offered from HanesBrands Inc’s Champion.
Kohl's bets on activewear for growth
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