Soft home, national brands downtrend at Kohl’s
By Staff -- Home Textiles Today, 4/30/2008 1:06:00 PM
Milwaukee – The home category is at the bottom of the heap at Kohl’s in terms of performance.
Speaking to reporters after the retailer’s shareholder meeting here this morning, chairman and ceo Larry Montgomery said the home business has been “tough” for the last eight or nine months.
He noted that the Food Network program is performing well, “but not enough to make up for all the sheets and comforters you have to sell.”
Exclusive brands like Chaps and Simply Vera Vera Wang will grab an increasing share of floor space going forward.
In 2007, private brands accounted for 28.4% of sales, up 100 basis points from 2006. Exclusive brands accounted for 10.8%, up 230 basis points. This year, both are expected to grow by 100 to 200 basis points.
“That’s all coming at the expense of national brands,” said Montgomery.
