Sales and profits rebounded in 2021, but the department store is now battling higher costs and a pullback from its price-conscious shoppers who are being more cautious with their spending in the face of rising prices for gas, food, and just about everything else. Kohl’s struggled with anemic sales before the pandemic. The company is expected to release its results on Nov. It said that same-store sales will be down 6.9%, while net sales will be down 7.2 % compared to the year-ago period. Kohl’s announced preliminary figures for its third-quarter period. The moves come as Kohl’s have been under pressure by activist investors to shake up management amid weak sales. ![]() 2 and Tom Kingsbury, a board director, will serve as interim CEO. Kohl’s said in a separate release that Gass plans to step down on Dec. ![]() Bergh joined Levi Strauss’s helm in September 2011, having served in top roles at Procter & Gamble during his 21-year tenure.
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