Kohl's called out the women's category as one of its biggest weaknesses during the quarter.
It is phasing out eight of its women's brands.Daniel Acker | Bloomberg | Getty Images"Our women's business remained challenged throughout the year," CEO Michelle Gass told analysts during a post earnings conference call on Tuesday. "We recognize that we need a much more significant reinvention in women's to improve the trajectory moving forward."that topped analysts' expectations. Year over year, however, its net income and net sales were down.
Kohl's called out women's as one of three reasons its results did not meet its own internal expectations. The other two reasons, according to Gass, were weakness in the home category and overall pressure on gross margins due largely to heavy promotions. Without going into details, Gass said Tuesday that Kohl's has put a new leadership team in place for its women's business.
She said Kohl's is making "bold moves" that include phasing out eight of its women's brands over the coming year, but didn't say which brands those are. It said it will provide more details during a March 16 meeting with investors in New York. Meanwhile, Kohl's will be launching additional private labels and leaning into its strongest national brand partners, the CEO explained. Some of those include
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