Kohl’s and JCPenney both have a similar inventory, but there’s a lot that separates the two retailers’ strategies for success.
JCPenney is one of the largest department stores in the US, but the company recently hit a wall in terms of sales and growth, reporting a 9% same-store sales decrease for the second quarter of 2019. It also plans to close 27 stores in 13 states.
Kohl’s also reported a drop in sales of 2.9% in stores open for more than a year in its second-quarter earnings. But Kohl’s CEO Michelle Gass said foot traffic in its stores has increased from the company’s partnership with Amazon.
We shopped at both stores and saw why Kohl’s has mostly managed to avoid mass store closures and outperform similar retailers like JCPenney.
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Kohl’s and JCPenney are both struggling a bit.
JCPenney said it plans to close 27 stores in 13 states this year and reported a 9% same-store sales decrease for the second quarter of 2019.
To critics, JCPenney represents a lack of specialization when it comes to the consumer.
“JCPenney hasn’t created an experience that solidifies a place in consumers’ shopping habits,” Kathy Gersch, executive vice president of the consultancy firm Kotter, told Business Insider’s Mary Hanbury in May 2018.
Read more: We went to Kohl’s and Target and found they were both a mess. Here’s why I’d shop at Target anyway.
Kohl’s is doing slightly better.
The company reported in its second-quarter earnings of 2019 that sales dropped 2.9% in stores open for more than a year.
Source:: Business Insider