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Kohl's Amazon agreement is the year's biggest initiative, says CEO



Kohl's shares fell on Tuesday, but store bank CEO Michelle Gass is convinced that Amazon could help return to the chain's recent problems.

Earlier Tuesday, Kohls (KSS) reported a net turnover of DKK 62 million. . The Wisconsin-based company said it had a profit of 38 cents. Profit adjusted for impairment of assets rose to 61 cents per annum. Share.

The department store retailer had a turnover of DKK 4.09 billion. Kr. During the period, which was less than the Wall Street forecasts. Kohl expects full-year earnings to be in the range of $ 5.1

5 to $ 5.45 a year. Share. Kohl's shares have fallen 5 percent since the beginning of the year.

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Kohl's plans for the year were made more conservative due to increased charges from tariffs. Changes were also introduced to become more competitive. Nevertheless, February was a slow month, while March and April experienced some improved trends.

Tuesday's news news follows an April announcement, where the store said it would accept returns for Amazon customers in all its more than 1,150 US locations starting this summer. On a conference call on Tuesday, Gass called the new program "This year's largest initiative."

Ticker Security Last Change % Chg
KSS KOHL & # 39; S CORP. 56.15 -6.76 -10.75%

The company said return on qualified goods will be accepted free of charge from 1 July without the need for the original box or a shipping label. The service was originally only available in Los Angeles, Chicago and Milwaukee as part of a pilot program.

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"Amazon and Kohl have a shared passion for providing excellent customer service, and this unique partnership combines Kohl's strong nationwide store footprints and omnichannel capabilities with the Amazon reach and customer loyalty. "Gass said at that time.

Fox Business & # 39; Kathleen Joyce and Thomas Barrabi contributed to this report.


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