{"id":162395,"date":"2022-08-18T22:17:10","date_gmt":"2022-08-18T22:17:10","guid":{"rendered":"https:\/\/precoinnews.com\/?p=162395"},"modified":"2022-08-18T22:17:10","modified_gmt":"2022-08-18T22:17:10","slug":"it-didnt-get-worse-romans-breaks-down-key-inflation-data","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/business\/it-didnt-get-worse-romans-breaks-down-key-inflation-data\/","title":{"rendered":"&#39;It didn&#39;t get worse&#39;: Romans breaks down key inflation data"},"content":{"rendered":"<p><cite>New York (CNNBusiness)<\/cite>Kohl&#8217;s can&#8217;t seem to catch a break, and it may have only itself to blame. <\/p>\n<p>The department store chain on Thursday presented a dour outlook for 2022, saying it expects full-year sales to fall 5% to 6% compared to a year ago and blaming high inflation for preventing shoppers \u2014 specifically its middle-income consumers \u2014 from spending more at its stores. The company also reported a drop in sales and profit for the quarter ended July 30.<br \/>\nKohl&#8217;s shares were down more than 4% in morning trading.<\/p>\n<ul><\/ul>\n<p>But the economy isn&#8217;t its only problem. <span>Kohl&#8217;s,<\/span> <span>(<span>KSS<\/span>)<\/span> similar to other large chains including  <span>Target<\/span> <span>(<span>TGT<\/span>)<\/span> and <span>Walmart<\/span> <span>(<span>WMT<\/span>)<\/span>, is stuck with a lot of excess inventory that it can&#8217;t clear out. The chain&#8217;s inventory in the quarter was 48% above where it stood at the same time last year.<\/p>\n<ul><\/ul>\n<p>&#8220;We have adjusted our plans, implementing actions to reduce inventory and lower expenses to account for a softer demand outlook,&#8221; Kohl&#8217;s CEO Michelle Gass said in a statement.<\/p>\n<h3>Unsteady course<\/h3>\n<p>With more than 1,100 US stores and around $19 billion in annual sales, Kohl&#8217;s is the largest department store chain in the United States. But the company has struggled to find a path forward for itself.<\/p>\n<ul><\/ul>\n<p>Kohl&#8217;s floated and then withdrew the idea of selling itself to Franchise Group (FRG), a holding company that owns The Vitamin Shoppe and other retail brands.<br \/>\nThe retailer is trying a variety of tactics to stay relevant, especially to younger consumers. It recently partnered with popular cosmetics brand Sephora to open mini-Sephora stores its locations. Kohl&#8217;s said the move has helped it acquire a million new customers since last August who are younger, more diverse and shop more frequently than the average consumer.<br \/>\nAnd last week, the retailer announced it was rolling out a self pickup option at all of its stores for online orders within a two-hour window.<br \/>\nBut all of these efforts, although necessary for Kohl&#8217;s, can&#8217;t fully camouflage the chain&#8217;s most basic problem, said Neil Saunders, retail analyst and managing director at GlobalData Retail.<\/p>\n<ul><\/ul>\n<p>&#8220;In our view, the main source of Kohl&#8217;s woes are internal. Most notably, the company has lost the plot in terms of merchandising and range planning and appears to be taking a seemingly random approach to buying. The result is a jumble of disjointed product in stores, which is exacerbated by a very serious deterioration in shopkeeping standards,&#8221; Saunders said in a note Thursday.<br \/>\n&#8220;It used to be the case that while a little uninspiring, Kohl&#8217;s was disciplined and neat in its presentation. Over the past year that has all gone out of the window,&#8221; Saunders said. &#8220;In this kind of economic environment, consumers will quickly abandon purchases and stores that require too much effort for too little reward.&#8221;<br \/>\nSource: <a href=\"https:\/\/edition.cnn.com\/2022\/08\/18\/business\/kohls-problems\/index.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (CNNBusiness)Kohl&#8217;s can&#8217;t seem to catch<\/p>\n","protected":false},"author":3,"featured_media":162394,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23051],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>&#039;It didn&#039;t get worse&#039;: Romans breaks down key inflation data - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/business\/it-didnt-get-worse-romans-breaks-down-key-inflation-data\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"&#039;It didn&#039;t get worse&#039;: Romans breaks down key inflation data - 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