Specialty departmental store
) recently announced the opening of three new stores, one each in
Hyannis, Mass.; Keene, N.H. and Michigan City, Ind. These stores
have created 375 jobs across the nation and raised the total
store count to 1,158 stores across 49 states.
In addition, Kohl's has plans to remodel 30 locations in the
fall of 2013, of which the company has completed remodeling of 10
locations in August and expects to complete the remaining by the
end of Sep 2013.
Kohl's new stores are well-designed and provide a number of
features including updated checkout stations, newly designed
shopping carts and strollers, larger customer service area,
Wi-Fi, upgraded fitting rooms and many more. Kohl's Michigan City
store will receive Leadership in Energy and Environmental Design
(LEED) certification, thereby enabling Kohl's to use more than
20% recycled and 20% regionally sourced building materials, cool
white ENERGY STAR-rated roofs and water-efficient landscaping and
plumbing fixtures. The store in Hyannis will have one electric
vehicle (EV) charging station with two parking spaces available
free of cost.
In a separate development, Kohl's announced that it will now
showcase the new collection from the famous U.S. designer
Catherine Malandrino under the concept DesigNation. The
collection will also be available on the company's website
Kohls.com and in its stores. Inspired by her recent trip to
Paris, Catherine Malandrino's collection will feature apparels
especially for women. The retail prices of these apparels will
range from $36 to $130.
Kohl's concept collection DesigNation features an exclusive
line comprising clothes from premier designers. The
limited-period collection is inspired by various international
destinations, with a different designer for every new collection
launched. The collection was introduced in fall 2012 with
designer Narciso Rodriguez followed by Derek Lam. Catherine
Malandrino is the third designer associated with Kohl's
DesigNation concept. We believe that the DesigNation collection
is expected to offer customers with more fashion options and
drive top-line growth for the company going forward.
Kohl's new stores are expected to help garner additional
business in the upcoming holiday season. We believe that this
time Kohl's is gearing up for the upcoming holiday season well in
advance and plans to hire more than 50,000 associates for its
1,158 stores . This shows the company's efforts to provide the
best shopping experience to its customers, which in turn will
While we are impressed with Kohl's initiatives to capitalize
on the all-important holiday season for retailers, Kohl's dismal
second-quarter earnings and narrowed earnings guidance for the
full year concern us. We continue to be bearish till the
company's new initiatives start paying off. Kohl's holds a Zacks
Rank #4 (Sell).
Other retail stocks, which have been performing well, include
Haverty Furniture Cos. Inc.
Fortune Brands Home & Security
). While Haverty and Kirkland's hold a Zacks Rank #1 (Strong
Buy), Fortune Brands carries a Zacks Rank #2 (Buy).
FORTUNE BRD H&S (FBHS): Free Stock Analysis
HAVERTY FURNIT (HVT): Free Stock Analysis
KIRKLANDS INC (KIRK): Free Stock Analysis
KOHLS CORP (KSS): Free Stock Analysis Report
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