The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
MENOMONEE FALLS, Wisconsin — Department store chain operator Kohl's Corp said it was eliminating three senior positions, including chief digital officer, to create a more "nimble organization".
The other positions being eliminated are senior vice president (VP) of store environment and development and senior VP of communications and public relations, Kohl's said in an emailed statement.
Kohl's restructuring comes days after the retailer reported disappointing holiday-quarter sales and cut its full-year 2015 profit forecast, hurt by heavy discounts.
The company's turnaround efforts have included revamping its beauty section, improving its loyalty program and marketing and boosting online sales through options such as same-day delivery and 'buy online, pick up in store'.
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Kohl's has also announced plans to open smaller format stores and stores in underserved locations as well as stores selling its proprietary brands such as FILA.
The company's shares were up 1.9 percent at $40.48 in afternoon trading on Friday.
By Ramkumar Iyer and Sruthi Ramakrishnan; editors: Kirti Pandey and Saumyadeb Chakrabarty.
The British musician will collaborate with the Swiss brand on a collection of training apparel, and will serve as the face of their first collection to be released in August.
Designer brands including Gucci and Anya Hindmarch have been left millions of pounds out of pocket and some customers will not get refunds after the online fashion site collapsed owing more than £210m last month.
Antitrust enforcers said Tapestry’s acquisition of Capri would raise prices on handbags and accessories in the affordable luxury sector, harming consumers.
As a push to maximise sales of its popular Samba model starts to weigh on its desirability, the German sportswear giant is betting on other retro sneaker styles to tap surging demand for the 1980s ‘Terrace’ look. But fashion cycles come and go, cautions Andrea Felsted.