MILWAUKEE — Kohl’s, which has been expanding outward from its Midwestern base for the last decade, will become a true national chain in 2003 when it ventures west of the Rockies for the first time and opens a total of 20 stores in Los...
MILWAUKEE — Kohl’s, which has been expanding outward from its Midwestern base for the last decade, will become a true national chain in 2003 when it ventures west of the Rockies for the first time and opens a total of 20 stores in Los Angeles, Las Vegas and Phoenix, said R. Lawrence Montgomery, the chain’s chief executive officer.“We can’t wait,” he said. “We’re counting down the days.”The Los Angeles stores will open next spring, while the Las Vegas and Phoenix units will follow in the fall.?Montgomery added that the company recently built a distribution center in San Bernadino to service the new stores and is currently hiring and training key personnel for what is expected to be a major expansion by the Menomonee Falls, Wisc.-based moderate department store chain to the West Coast.Kohl’s also plans to open another 110 stores in existing and contiguous markets over the next two years, bringing its total to just shy of 600 units.Montgomery’s remarks came at the company’s annual meeting, which was held Tuesday at the Midwest Express Center in downtown Milwaukee.In a review of operations, Montgomery said the company continues to be on the lookout for moderately priced apparel brands that can be expanded across numerous categories. An example is Columbia sportswear, which the chain introduced two years ago and now features in women’s, men’s and children’s. ?Montgomery also singled out such recent introductions as Nine & Co., Jantzen and Oshkosh children’s wear as having potential for expansion.Kohl’s current top-10 brands — which account for 20 percent of total store sales — are Adidas, Columbia, Fieldcrest, Haggar, Lee, Levi’s, Nike, Reebok, Sag Harbor and Villager, a Liz Claiborne label.At an informal press conference after the meeting, Rick Leto, Kohl’s executive vice president and general merchandise manager, said the chain had no plans to pursue an acquisition along the lines of Sears’ recent purchase of Lands’ End. “That’s not the way we do business,” he said, before going on to label Sears’ deal an act of “desperation.”“Stores do things like that when they don’t have a developed apparel business and need a quick fix,” he said.Leto also extolled the virtues of small buying staffs, saying that even though sales have almost quadrupled over the last six years, Kohl’s has added only 10 new buyers for a total of 54. Last year was Kohl’s 10th anniversary as a public company, and Montgomery cited statistics to demonstrate the chain’s rapid growth during that time. l Revenues over the last decade have grown by about 23 percent a year and last year totaled $7.4 billion.l Earnings — which last year hit $496 million — have done even better, growing by almost 33 percent annually. l Comparable-store sales over the last decade have increased 8.4 percent a year.l A $1,000 investment in Kohl’s stock in 1992 would now be worth $37,000.
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)
Not only does #TheProfit return to CNBC tonight, but @marcuslemonis has launched @shopmarcus, a new shopping and lifestyle retail experience in Aspen and Chicago, with more locations to come. The retail stores offer in-store stylists and a variety of contemporary womenswear selections.
“It’s life, I’m going to face it,” @mingxi11 sighed. “I fell, but you know, I think the most important thing is that I get back up. I had the love, the help from my sister — the girl next to me Gizele [Oliveira] — she’s so nice. When I went backstage everybody was trying to comfort me like ‘Oh Ming, it’s OK.’ I’m really, really touched. I think it’s them who gave me the courage to go back on stage for the finale,” Xi told WWD of her fall at the @victoriassecret fashion show. (📷: David Fisher) #wwdfashion #vsfashionshow #victoriassecret
@louisvuitton tapped @therealpeterlindbergh for its latest city-centric photo book, which is part of a series called Fashion Eye. The primarily black and white book captures the spirit of Berlin in 57 images shot between 1989 and 2019. “Berlin is an inspiration for me, more than a city. I mean @millajovovich is simply Berlin!” said Lindbergh. #wwdfashion
“You know, I think audiences expect a certain performance so I have to deliver to them what they’re expecting to a certain degree. But I’m also a different actor and a different person, I have my own spin on the character,” says @noahegalvin of his takeover of the leading role in “Dear Evan Hansen” following the departure of @bensplatt, who originated the role. Read WWD’s interview with the 23-year-old actor on WWD.com #wwdeye (📷: @jilliansollazzo)
For pre-fall 2018, @etro created richly-colored wonderland, using tapestries, textiles and wallpapers from the Eastern world at large. The line featured floral and graphic prints and jacquard motifs, like this two-piece look featured here. #wwdfashion (📷: Giovanna Pavesi)
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)