MILWAUKEE — For the past few years, Kohl’s has been the darling of the retail world, but now, the retailer is seeing a dip in sales and making a plan to get back on top.
Kohl’s has been adding locations and growing sales at a time when few stores were doing either. Then, Kohl’s surprised the industry with a sales drop at the end of last year, during the critical holiday season.
In response, the company plans to make some changes.
Kohl’s has lowered its prices this year, and increased its marketing budget. It is also adjusting its inventory, piloting new store layouts and cutting back on new stores.
The company plans to open 19 stores this year, compared with 40 in 2011.
Right now, Kohl’s operates more than 1,100 stores across the country.
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