Kohl's, Inc.

Off-price retailers will remain among the top performers in the U.S. retail industry during the next 12 to 18 months.   That's according to a new report from Moody's Investors Service. The outlook is not as positive for department stores, which will continue to struggle as they seek to level the playing field with both off-price and online vendors.  

Kohl's is extending its collaboration with Amazon in a way that is almost sure to drive increased traffic into its stores while solving one of the online giant's biggest challenges.     The department store retailer will begin accepting Amazon.com returns at 82 Kohl's stores in Los Angeles and Chicago. The chain will not only ship eligible items back to an Amazon fulfillment center free of charge, but will also pack up the goods for shipping if the customer has not done so.    

The parent company of Hudson's Bay, Lord & Taylor and Saks Fifth Avenue has appointed a 25-year retail veteran as its new finance head.   HBC named Edward Record as CFO, effective August 28, 2017. He succeeds Paul Beesley, who, as previously announced is leaving HBC.   Record joins HBC after more than three years as CFO of J. C. Penney Company. In July, he announced he was stepping down from the company to "pursue other interests."  

Amazon’s third annual Prime Day was its biggest shopping event yet — and the biggest day in its history for signing up new Prime members.  

Kohl’s Corp. posted mixed results for its first quarter, as sales continued to decline but profit jumped amid expense control and more careful inventory management.    The retailer reported net income of $66 million, or 39 cents per share, in the quarter ended April 29, up from $17 million, or nine cents per share, in the year-ago quarter. The gain, much better than expected, came as the company cut general expenses by $33 million.   

Kohl’s Corp. reported a better-than-expected quarterly profit amid expense controls that helped make up for lower sales.   The chain reaffirmed its full-year profit forecast.   Kohl’s net income rose 21.7% to $146 million, or 83 cents per share, in the third quarter ended Oct. 29. Excluding items, Kohl's earned 80 cents per share.   Sales decreased 2.3% to $4.33 billion from $4.3 billion in the year-ago period. Same-store sales fell 1.7% during the quarter.

Kohl’s Corp. has joined the ranks of Walmart, Starbucks and other companies to offer its own mobile payments app.    The retailer launched Kohl’s Pay on Wednesday, hoping to speed up checkout in its stores. Using the app, shoppers can integrate their Kohl’s private label credit card and their Yes2You Rewards member number directly in the app’s mobile wallet. The technology also saves earned Kohl’s Cash and Yes2You Rewards.  

Kohl’s Corp. is expanding its smaller-store format.   The retailer is opening six, smaller-format stores on Sept. 30, all in the Midwest, the Milwaukee Business Journal reported.   The locations are all in the Midwest, with two in Wisconsin, and one each in South Dakota, Minnesota, Illinois and Indiana. The stores average approximately 35,000 sq. ft. each, according to the report.