On Tuesday, the company said sales in stores that open at least one year increased by anemic 0.4% over the past quarter. Kohl's earnings fell by 24% during the quarter compared to a year ago, and the retailer lowered its outlook on the holiday shopping route. It was the second time Kohl lowered his forecast this year.
CEO Michelle Gass tried to put her best spin on the results. "We are going into the holiday with speed," she said in a prepared statement.
The results indicate that Kohl's makeover strategies are decreasing.
Gass, Kohl's CEO, has taken a proactive approach to redo the retailer's more than 1,150 stores for online shopping time, which many analysts consider Kohls to be in a better position than Macy's, JCPenney and other mall brands et because the majority of Kohl's stores are away from malls.
Kohl has partnered with Amazon to provide free returns for customers in stores. Gass said earlier this year that rolling out Amazon to all of its stores was the company's "single biggest initiative" for the year.
But in order to survive, Kohl may need to get bigger.