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Kohl’s plans new stores, formats


Kohl’s is in growth mode when it comes to the retailer’s store base.

Next year, Kohl’s plans to open five to 10 new stores in a smaller 35,000-sq.-ft. prototype, aimed at underserved areas. Kohl’s also plans to open 10 to 15 stores dedicated to its proprietary Fila brand in outlet malls across the country. Additionally, the retailer will open two more Off-Aisle by Kohl’s off-price locations in 2016.

"We are in a strong position to explore new formats as an additional avenue for growth and diversification,” said Kevin Mansell, Kohl’s chairman, CEO and president. “We have also leveraged the strength of our exclusive brands to create completely new retail outlet locations solely selling our proprietary brands, starting with Fila."

The expansion of store locations and formats is part of a multi-year plan called the "Greatness Agenda," officially launched at the beginning of 2015. So far, the program has included the launch of the Yes2You Rewards loyalty program, which now has more than 33 million members.

Kohl’s also rolled out an expanded and elevated beauty department, introduced personalized marketing efforts, launched a new mobile app, saw double-digit year-to-date growth and market share gain in the active and wellness business, and launched several national brands, including FitBit, Madden Girl, Columbia, Samsung, and Bliss.

To measure success in the near-term, Kohl’s is setting out to reach three primary goals by the end of 2017: to increase sales to $21 billion, be in the 90th percentile for associate engagement, and best-in-class for customer engagement.

Additional efforts Kohl’s will undertake in the coming year to work toward those goals include greater personalization, a seamless shopping experience across digital and physical channels, driving traffic in stores through buy-online, pick-up-in-store, and targeting of Hispanic and millennial shoppers.

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