In response to the coronavirus crisis, department stores Kohl have removed several brands of women’s clothing from its stores.
In a New York Post report of May 19, Kohl’s said the coronavirus crisis would “have a material impact on results this year.” This resulted in the removal of eight brands, including Jennifer Lopez, Juicy Couture and Popsugar from its stores. The department store chain warned that demand for women’s clothing would remain weak, the report said.
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According to the report, Kohl’s has been a partner of Jennifer Lopez for about a decade and started selling Juicy Couture in stores in 2014.
The mid-priced department store chain, which closed stores in the United States due to the pandemic lockout, posted a larger-than-expected first-quarter loss, resulting in a 6.5% drop in stocks in the middle afternoon after the announcement, the May 19 Report.
Online sales went well in April, and the chain reported a 24% increase in the quarter and more than 60% in April. According to the report, nearly half of Kohl’s US stores have now reopened.
“Our financial performance, like many other retailers, will be significantly affected by COVID-19 in 2020”, Kohl chief executive Michelle Gass told the New York Post.
Even before the pandemic, the chain was experiencing difficulties in the women’s clothing sector, due to the shift of consumers to online shopping as well as fast fashion brands, the report said.
“Leave them [the 8 brands] will create focus and clarity on the brands that will continue, “Gass told the New York Post.” We are still very committed to the women’s business. In the short term, we face some challenges here. “
In addition to Jennifer Lopez, Juicy Couture and Popsugar, Kohl’s will also stop selling Dana Buchman, Mudd, Candie’s, Rock And Republic and Elle, the New York Post said.
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