What: Kohl’s Chief Marketing Officer Greg Revelle will depart the company June 1. Chief Merchandising Officer Doug Howe’s departure is effective immediately.

Why is it important: As the company searches for their replacements, Christie Raymond, who leads customer insights, analytics, and engagement, and longtime Kohl’s merchant Ronald Murray will step in.

Kohl’s stated that it has received non-binding proposals to be acquired and has requested fully financed final bids to be submitted in the coming weeks.

In that report Kohl’s said Q1 net sales and comp sales each fell 5.2% year over year, total revenue fell 4.4% to USD3.7 billion and gross margin contracted 69 basis points. Operating income tumbled 70%, as net income stayed flat at USD14 million. Inventory was up 40%, per the filing.

Two top Kohl’s executives step down