It’s been a little more than a year since Kohl’s announced the launch of its Greatness Agenda in a bid to boost dwindling sales and CEO Kevin Mansell is happy to say the strategy is working.
“The key business initiatives outlined in the Greatness Agenda one year ago have delivered, or in most cases over delivered, to our plan,” he said Tuesday in a press release.
The retailer tackled its shortcomings head-on by initiating a loyalty program, introducing a beauty department, launching a mobile app and other moves that it said brought almost immediate success.
“With one year of key wins and further customer insights under our belts,” Mansell said, “we are on course to meet our three-year goals and become the most engaging retailer in America.”
Now entering year two of the Greatness Agenda, Kohl’s is determined to be even better.
Built on five pillars—amazing product, incredible savings, personalized connections, winning teams and easy experience—the retailer announced its plan to create new opportunities to improve each pillar.
To boost products, Mansell said that the goal by mid-2016 is to provide each individual store with a “unique” collection of products to encourage locals to shop, in addition to offering more women’s apparel options. Kohl’s also hopes to re-establish itself as the “value leader” by offering more competitive prices.
To ease the shopping experience, Kohl’s announced perhaps the biggest news: it plans to build five to 10 new stores next year in urban areas and small cities. The new shops—which will be 35,000-square-foot spaces compared to the average 88,000 square feet—will attract new shoppers in areas previously untouched by the retailer, offering further opportunity for expansion.
With Mansell behind the wheel, Kohl’s looks forward to the next year with enthusiasm and high expectations: “The bar is getting raised. No question.”