Kohl's executive says retailer to change pricing, promotions amid poor quarterly earnings: report
Added 05-23-19 06:04:01pm EST - “On the heels of disappointing results in Kohl's fiscal first-quarter earnings on Tuesday, a company executive reportedly said some adjustments were on the horizon to incentivize customers.” - Foxbusiness.com
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On the heels of disappointing results in Kohl’s fiscal first-quarter earnings on Tuesday, a company executive reportedly said some adjustments were on the horizon to incentivize customers.
The changes pertain to store prices and promotions, the company’s chief financial officer Bruce Besanko said Tuesday, according to USA Today. He reportedly characterized the price changes as being “surgical” in nature.
“We know our customers are driven by value, and so we’re going to make the necessary changes to pricing and promotion to help drive that,” Besanko said during a call with analysts. “We’re not going to lose out, as a consequence of pricing, to competitors.”
Offering an optimistic tone, Besanko reportedly described the earnings outcome as “a speed bump” that company leaders plan to get through and “regain the momentum.”
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