US: Kohl's chief merchandiser resigns amid strategy shifts
The resignation of Donald Brennan, chief merchandising officer at Kohl's Corp, is seen by analysts as underscoring the shifting strategy currently underway at the department store operator.
Kohl's disclosed Brennan's departure in a filing today (25 March), noting that he will be leaving the company on 1 April.
The resignation is the latest in a line of management changes, and follows a 12% drop in fourth-quarter earnings to US$334m in the three months to 1 February, and a 3.8% slide in sales to $6.1bn.
It could also be positioning chief customer officer Michelle Gass "as front-runner for CEO in the future," according to UBS analyst Michael Binetti. Gass was hired from Starbucks in last year.
Binetti also notes that the CMO position is key at Kohl's as the company undergoes a merchandise strategy transition. But he points out that CEO Kevin Mansell was previously CMO, "so has a good working knowledge of the merchandising function to fill the gap during the search for a replacement."
In the interim, all merchants will report directly to CEO Kevin Mansell.
Kohl's Corporation - Strategy and SWOT Report, is a source of comprehensive company data and information. The report covers the company’s structure, operation, SWOT analysis, product and service offer...
Lord Daniel Sportswear is implementing NGC's fashion ERP solution to help manage its growing apparel business....
Kohl's Corporation (Kohl’s) is a specialty retailer of apparel and accessories, and home furnishings. It operates a chain of department stores and sells moderately priced apparel, footwear, accessorie...
Kohl’s operates department stores that sell moderately-priced branded and private label apparel, home products, and housewares. Thanks to its size, the company is able to offer top brands and exclusiv...
Department store retailer Kohl's Corporation has reported a double-digit drop in third-quarter profit - but according to one analyst, new initiatives in place will lead to improvement in the fourth qu...
With a large population and high income per head, demand for apparel in the USA is huge -- amounting to nearly US$300 bn during 2012. This has facilitated sustained growth of a number of giant retaile...
- Expensive US dollar hitting H&M sourcing costs
- Enthusiasm for tech in outdoor apparel on rise
- 2015: Welcome to the new fashion consumer
- Apparel industry gains traction says IAF chief
- Performance apparel set for continued growth
- Kanati pulls production out of Pakistan
- Sears Holdings cuts 115 corporate jobs
- H&M Q4 mixed but plans 400 new stores
- JC Penney to close 10 Foundry stores
- UK clothing sales see strongest rise in two years
- Myanmar's Garment Sector - Opportunities & Challenges in 2015
- Outdoor performance apparel: peaks, valleys, and green fields
- Apparel Retail: Top 5 Emerging Markets Industry Guide
- Li & Fung Limited (494) - Financial and Strategic SWOT Analysis Review
- Management briefing: Outlook 2015: Apparel industry issues in the year ahead