Kohl’s Corp., streamlining at the highest levels of management, has let go Nancy Feldman, executive vice president and general merchandise manager, and Arthur Lewis, executive vice president of product development, WWD has learned.
Feldman, a well-known women’s apparel executive who previously was with Macy’s Inc., worked out of Kohl’s Wisconsin offices, while Lewis worked at the retailer’s New York design office.
“Their responsibilities have been streamlined and absorbed into our current leadership team,” said Jen Johnson, Kohl’s vice president of communications, in response to a WWD inquiry on departures. “We’ve gone from five executive vice president-gmms, to four. We’ve gone from two evps of product development to one.”
Johnson said the changes at Kohl’s corporate offices “will continue to facilitate a more nimble organization” and “better position us to work with the speed and agility needed to deliver impactful shopping experiences that today’s consumers demand.”
She added that the company “streamlined the leadership structure in our merchandise, planning and product development areas. As a result, we eliminated two leadership roles.…This decision was one we took very seriously and approached thoughtfully.
“The new structure is part of supporting the strategic framework of our Greatness Agenda. Any changes we make in our processes and structure are focused on accelerating our ability to produce positive results.”
The Kohl’s Greatness Agenda has five strategic pillars, for “amazing product, incredible savings, easy shopping experience, personalized connections with customers and winning teams of associates.”
This Menomonee Falls, Wisc.-based retailer, which generates close to $19 billion in annual sales, recently adjusted downward its projected earnings for 2016 to $3.60 to $3.65 per diluted share, from a previous forecast for earnings of $3.80 to $4 per share. The retailer’s comparable-store sales fell 2.1 percent during the November and December period.