Kohl’s still looking for a home revival
MENOMONEE FALLS, Wis. – For the 4th year in a row, Home segment sales declined at Kohl’s for during the first half of the fiscal year.
For the six-month period ended Aug. 2, Home sales rang in at $776 million, down 6.3% compared to the same period in 2024, according to the company’s most recent 10-Q quarterly filing with the SEC.
Compared to 2021’s first half – that most recent comparable period during which Kohl’s generated positive growth in home – segment volume is off by nearly $470 million.
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Second quarter Home sales declined 6.9% to $406 million. The segment under-performed against the company’s total sales, which fell 5.1%. First quarter Home sales fell 5.6% to $370 million.
Kohl’s approach to the Home business has fluctuated in recent years. Under former CEO Tom Kingsbury, the company chased top-line growth by rolling out new categories and expanding space for impulse items, gifts and home décor. His successor, Ashely Buchanan, announced last March that the company had begun working to regain traction in the legacy home assortment. Buchanan was fired from Kohl’s in May for allegedly pushing deals that would benefit his romantic partner.
Although the company remains a major account for Home, the segment shed $222 million in sales during the fiscal year ended Feb. 1. The category has been steadily dwindling throughout the 2020’s and crossed an unfortunate milestone in 2022 – when Kohl’s annual Home sales fell below $3 billion for the first time since 2007.
