, Columnist
After Kohl’s Earnings Disaster, Amazon to the Rescue?
An unusual tie-up with the e-commerce giant may help give Kohl’s the thing it badly needs: more customers in its stores.
Whatever it takes.
Photographer: Kyle Grillot/BloombergThis article is for subscribers only.
Kohl’s Corp.’s dismal first-quarter earnings report made one thing clear: The innovative partnership it struck with Amazon.com Inc. is more important than ever.
The department-store chain reported Tuesday that comparable sales fell 3.4% in the first quarter, a figure that was far below analyst expectations and made for its weakest performance on that measure in three years. Gross margin slipped to 36.8% and the company slashed its earnings per share guidance for the full year.