Kohl’s Picks C.E.O. of Michaels to Help It Turn Around

Published On Nov 25, 2024, 6:39 PM

Kohl’s has appointed Ashley Buchanan, former CEO of Michaels, as its new chief executive starting January 15, 2025. Buchanan is expected to lead the company through current challenges, which include declining sales and profitability issues. His experience includes a significant role at Walmart where he focused on enhancing e-commerce capabilities. Despite the recent partnership with Sephora helping to attract younger customers, Kohl’s anticipates a sales decline of 4-6% this year, with more detailed earnings to be announced soon.

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With Ashley Buchanan's experience in digital transformation and retail, there is potential for improvement in Kohl's sales strategies. However, the ongoing challenges may restrict immediate positive outcomes. Investors should be cautious and monitor the upcoming earnings report for more insights.

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