Kohl's CEO Says Physical Stores Are Important

The transcript discusses Kohl's strategy in the retail market, focusing on their decision not to close stores like some competitors. It highlights the importance of an omni-channel approach, leveraging physical stores to fulfill online orders. The discussion also covers competition with Amazon, the impact of the US economy on wages, and concerns about tax reform, particularly the border tax. Kohl's aims to be a leading omni-channel retailer by investing in both online and physical store experiences.

Why does Kohl's believe maintaining physical stores is crucial?

• They want to reduce operational costs.

• Stores are essential for fulfilling online orders.

• Physical stores are becoming obsolete.

• They plan to convert stores into warehouses.

What strategy does Kohl's use to address declining store traffic?

• Closing more stores.

• Increasing online advertising.

• Investing in store experiences.

• Reducing product prices.

What is one of the main reasons for Walmart's significant online sales growth?

• They acquired another big business.

• They launched a new advertising campaign.

• They closed many physical stores.

• They reduced their product prices.

How does Kohl's differentiate itself from Amazon?

• By focusing solely on online sales.

• By having more physical stores.

• By being a best-in-class omnichannel retailer.

• By offering lower prices.

How does Kohl's plan to compete with Amazon's physical store expansion?

• By closing underperforming stores.

• By enhancing their omnichannel experience.

• By reducing their online presence.

• By increasing their advertising budget.

What economic factor is putting pressure on Kohl's wages?

• Rising costs of raw materials.

• Increased competition from new retailers.

• Low unemployment rates.

• High inflation rates.

What is Kohl's stance on the proposed border tax?

• They support it as it will increase local production.

• They are indifferent to the tax proposal.

• They believe it will lower demand and affect employment.

• They think it will have no impact on their business.