Kohl's removes Jennifer Lopez, other women's brands

26 May '20

2 min read

Pic: Kohls

Predicting a continued weakening demand for women’s apparel, Kohl’s Corp recently removed eight brands, including Juicy Couture, Popsugar and Jennifer Lopez, from its stores. Chief executive officer Michelle Gass had said on March 3 that after assessing its entire brand offering, the company had decided to exit eight women's brands over the coming year.

“We believe this will provide greater clarity for our customers and a more compelling and current offering,” she had said.

Other brands leaving Kohl's stores are Dana Buchman, Mudd, Rock & Republic and Elle. Its shares fell by about 8 per cent after it reported a bigger-than-expected first-quarter loss.

The mid-priced US department store chain reported a 24 per cent surge in online sales in the quarter and more than 60 per cent in April and said it had now reopened nearly half of its US stores as lockdowns eased, according to US media reports.

For the quarter ended May 2, however, net sales fell about 44 per cent to $2.16 billion and the company reported a net loss of $541 million.

The COVID-19 crisis would have a material impact on its results this year, it said. “Exiting these brands is part of our continued strategy to evolve our brand portfolio (which we've talked publicly about over the past year or so) and is not directly tied to the COVID-19 pandemic,” a Kohl’s spokesperson told Fibre2Fashion.

Fibre2Fashion News Desk (DS)

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