Kohl's to stay open 107 hours straight before Christmas
Kohl’s will keep many of its stores open around-the-clock beginning at 7 a.m. on Dec. 20 until Dec. 24. Hours may vary by location, the retailer said on Tuesday, advising customers to check Kohls.com for local store hours.
Kohl’s also announced a series of deals for the holidays, including one-day special prices on “Super Saturday,” which this year falls on Christmas Eve as well as the first day of Hannukah. Kohl's will offer price promotions on popular gifts from apparel to toys, and emphasized it will give out $10 of “Kohl’s Cash” for every $50 spent from now through December 24.
The marathon opening hours pale in comparison to 2015 when the discount department store was open for 170 hours in the lead up to the holidays.
Kohl’s has struggled in a turnaround that has now lasted years, an effort it’s dubbed its “Greatness Agenda” that so far hasn’t been that great.
The retailer continues to work hard to attract customers, bringing in the Apple Watch and forging partnerships with activewear retailer Under Armour and doll company American Girl. Kohl's is staking much of its progress on the nitty gritty — small improvements in sales, movement through inventory and cost cutting measures. This has produced some uplift: Its third quarter profits were $146 million, or 83 cents per share, up from $120 million or 63 cents per share a year ago.
Kohl's posted Q3 revenue of $4.33 billion, down from $4.43 billion last year, but beating the FactSet expectation for $4.32 billion. Same-store sales fell 1.7%, just short of the Retail Metrics forecast for a 1.6% decline — the company's third consecutive negative same-store sales decline following a string of five straight positive quarters, according to Retail Metrics analyst Ken Perkins.
Its Kohl’s Cash program, which the retailer has integrated into its mobile app, has been a “brilliant” success, according to Shelley E. Kohan, VP of retail consulting at store analytics firm RetailNext. The app also now includes mobile payment.
But Kohl’s reliance on discounting, which will be aggressive during its long-running holiday hours, could get it into trouble. “The one note of caution over holiday trading comes on the discounting front,” Conlumino retail analyst Håkon Helgesen told Retail Dive in an email last month. “Last year Kohl’s was highly promotional, and this year the market will continue to be very price-led. Ultimately this could dilute any profit gains made from improved volumes.”
This story is part of our ongoing coverage of the 2016 holiday shopping season. You can browse our holiday page for more stories.
- press release Kohl’s Offers Incredible Savings on Last-Minute Gifts
Follow Daphne Howland on Twitter