Kohl’s saw second-quarter same-store sales drop 7.7% as we settle deeper into inflation. Kohl’s current earnings are $2.80-$3.20 a share which is nearly 50% less than the forecast of $6.45-$6.85. Consumer spending is grossly down which results in a lot of profit margin busting markdowns which we’ll see well into the holidays to clear unsold inventory from prior seasons.
One wonders how Sephora will do with this considering Kohl’s estimated 2 billion in sales to investors from the opening of Sephora locations in stores. As you know 1,100 Sephora stores with their own entrances opened across the US within Kohl’s stores.
I haven’t been to a Kohl’s store in ages but apparently, the clearance racks are loaded with tons of clothing, accessory, and home clearance from seasons past. I personally though Sephora opening in Kohl’s was not only weird but a bad idea and here we are not even a year into that event and things are going rather poorly. Apparently the Sephora locations within Kohl’s are less than busy!
How sad.
We’ll have to see how Kohl’s does into 2023. I hope all goes well for them!

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