Major Changes Coming to Sioux Falls Kohl’s Stores
The department store giant, Kohl's will likely have a very different look in Sioux Falls soon.
The company announced this week that it's completely re-shaping its brand, in order to save itself from the same fate of other department store giants that went bankrupt and closed their doors.
No date has been announced yet, but Kohl's will be adding Sephora mini-shops to the majority of its over 1,000 locations. But that's not all. It will also be opening another 100 stores nationwide, although they won't be like the typical Kohl's you're used to seeing. These Kohl's will be significantly smaller. The Kohl's Cash Reward System will be getting a boost to 7.5% as well.
Why all the changes? Well, the long-short of it is, the company is trying to prove to Wall Street that it can survive in this new age of consumers. With company shares down 17% over the past 10 years, Kohl's is looking to remake its image.
We're evolving our position from a department store to a more focused lifestyle concept centered around the active and casual lifestyle
-Kohl's CEO Michelle Gass
But what does that mean for the two Kohl's here in Sioux Falls? It remains to be seen, but both will likely be seeing some big changes in the very near future.
For more information on just what changes Kohl's will be making, along with what kind of results financial experts think will take place with this brand shift, see the full article from CNN.
Story Source: CNN