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Dive Brief:
Kohl’s is taking direct aim at its competition with a four-day Summer Cyber Deals event that starts one day before Amazon’s Prime Day, running from July 7 through July 10, according to a company press release.
Taking place in-store and online with free shipping offered on all e-commerce purchases, the Kohl’s event includes discounts on hundreds of items in apparel, footwear and accessories, with many priced under $20. The event also includes new one-day deals on beauty, apparel and home items.
Kohl’s is offering $10 in Kohl’s Cash for every $50 spent on qualifying merchandise, and loyalty program members can earn 5% on their purchases during the event.
Dive Insight:
Kohl’s is the latest retailer to bring back a summer sales event coinciding with Amazon’s Prime Day.
Target and Walmart have also scheduled their own versions of a deep discount July events. Target’s Circle Week highlights back-to-school supplies and runs from July 6 through July 12, while Walmart’s six-day competing Walmart Deals runs from July 8 to July 13 and offers discounts on a wide range of items including electronics, home and toys.
Kohl’s is in the midst of a tumultuous year as it looks to rebound from a poor performance in fiscal 2024. Net income for the full year plunged 65% to $109 million. In its most recent quarter, the department store reported Q1 net sales fell 4.1% with comps down 3.9%.
In January, the retailer said it would shut down 27 underperforming stores and one e-commerce fulfillment center in San Bernardino, California. It also cut 10% of its corporate workforce, or about 200 people, that month in order to increase efficiency.
Last November, Kohl’s replaced former CEO Tom Kingsbury with Michaels veteran Ashley Buchanan. After just a few months on the job, Kohl’s fired Buchanan over “vendor transactions that involved undisclosed conflicts of interest.”