Kohl’s Corporation (NYSE:KSS) provided an update ahead of the company's virtual Investor Day event.
Kohl's (KSS) said it is undergoing a significant transformation of its business model and brand to be the retailer of choice for the Active and Casual lifestyle.
"We have fundamentally restructured our business to drive sustainable and profitable growth, while providing a strong return to shareholders," noted CEO Michelle Gass.
Initiatives including a plan to evolve to be a focused lifestyle concept, centered around the Active and Casual lifestyle. Kohl's (KSS) said it is modernizing its brand and offerings to fit the unique needs for how people are living today.
There is also a goal to take Sephora to a $2B business through an expanded store rollout to 850 stores and continue to acquire millions of new customers with Amazon Returns. The company said it sees opening more than 100 new smaller format Kohl’s stores over the next four years and growing the digital business to $8B by enhancing discovery and shopability on its website.
Kohl’s (KSS) also said it is committed to returning significant capital to shareholders while investing in initiatives to drive organic growth. In 2022, Kohl's plans to repurchase at least $1.0B worth of stock, demonstrating confidence in its business and key strategic initiatives.
Kohl's is on Seeking Alpha's Catalyst Watch this week.