Kohl’s removes Jennifer Lopez, seven other brands from stores https://t.co/vpLMsPzFu2 via @nypost
— Samantha Boozer (@SamABoozer) July 24, 2020
– Due to the coronavirus crisis brands Jennifer Lopez, Juicy Couture, Popsugar, Mudd, Rock & Republic, Dana Buchman, Candie’s and Elle have been removed from Kohl’s.
– Though Kohl’s “reported a 24 percent surge in online sales in the quarter (which ended on May 2) and more than 60 percent in April”, net sales fell about 44 percent and “the company reported a net loss of $541 million”
– “Our financial performance, like many other retailers, will be materially impacted by COVID-19 in 2020,” chief executive Michelle Gass said on a post-earnings call.
– Before the coronavirus, Kohl’s was already struggling with women apparel as “consumers shifted to online shopping and fast-fashion brands.”
With the 8 brands departing, it “will create focus and clarity on the brands that will continue,” Gass said. “We’re still highly committed to the women’s business. In the short term, we’re facing some challenges here.”