Menomonee Falls, Wis. – Every category of business except Sephora lost ground at Kohl’s last year but home declined the least.
Among the six categories of business the retailer broke out in its 10K annual report filing with the SEC, only Accessories – which includes sales from Sephora shop-in-shops – generated a year-over-year sales increase.
However, among the other categories, Home was the lone category that showed a single-digit sales decline.
The Home segment shed $222 million in sales during the fiscal year ended Feb. 1. Home accounted for 15% of total retail sales last year, as was the case in 2024. The category has been steadily dwindling throughout the 2020’s and crossed an unfortunate milestone in 2022 – when Kohl’s annual Home sales fell below $3 billion for the first time since 2007.
Still, Kohl’s remains a major account for volume home goods business with more than $2.3 billion in sales. And with 1,175 stores, Kohl’s now operates more bricks & mortar locations than JCPenney (656) and the Macy’s banner (450) combined.
Earlier this month, CEO Ashley Buchanan told investors that Kohl’s is focused on rebuilding business with its core customers, some of whom were put off as Kohl’s chased top-line growth by rolling out new categories. That plan includes regaining traction in the legacy home assortment, which lost some attention as the retailer expanded space for impulse items, gifts and home décor.
“It’s going to take some time,” Buchanan said during the March 11 Q4 review call. “This is a long lead time business – we’re looking at 9 months, in some cases, to get product in.”
See also:
- Kohl’s CEO: Turnaround is going to take some time
- New businesses pop, but core departments still a drag at Kohl’s