The highly anticipated Black Friday is still two weeks away but retailers are already geared up to stay ahead in the competition. Kohl’s Corporation (KSS) announced a slew of deals for Black Friday, including significant discounts on everything from national brand items to exclusive fashion brands like Juicy Couture and Simply Vera Vera Wang. The ‘Price Meltdown’ offers will begin at 6 p.m. on Thanksgiving Day at Kohl’s stores nationwide, with sales running through 1 p.m. on Black Friday.
Kohl's will be offering attractive deals on items including toys, electronics, kitchen appliances, jewelry and more. Interestingly, all toys from popular brands such as Playskool, Fisher-Price, Little Tikes, Step 2, Barbie, Monster High, Hot Wheels, Matchbox, Nerf, Tonka and Play-Doh will be available at a discount of flat 50%.
Electronic items like LG LED TV, Canon PowerShot ELPH 135 16MP camera, Toastmaster kitchen electrics, Ninja ultima blender dual-stage blending technology and Jawbone UP24 Bluetooth activity tracking wristband; home products including Serta memory foam bed pillows and The Big One bath towels; and gift items like diamond pendants, Disney Frozen giftable tees by Jumping Beans, All Barbie Fashionista and Monster High dolls are all available at attractive prices.
Apart from this, Kohl's will be offering shoppers $15 in gift cards for every $50 spent from Nov 24 through Nov 30 in order to attract customers. Kohl’s also initiated a new Yes2You Rewards program, where members will get to save more on shopping on Black Friday.
Black Friday is the day after Thanksgiving (this year Nov 28). It is mostly a holiday across a sizable section of the U.S. and is followed by a weekend. This is the reason that it has been consistently rated as one of the busiest shopping days of the year since 2005. It is often regarded as a precursor to the Christmas shopping season.
Retailers battle hard to have a bigger share of sales on this day and the subsequent holiday season through aggressive promotions and lucrative deals as these make up a sizable chunk of their yearly revenues.
Like Kohl’s, other retailers like Best Buy Co., Inc. (BBY), Wal-Mart Stores, Inc. (WMT) and Target Corp. (TGT) are also rolling out deeper discounts for Black Friday.
Recently, the Zacks Rank #4 (Sell) company reported its third-quarter fiscal 2014 results, wherein both earnings and revenues missed the Zacks Consensus Estimate and also declined from the prior-year quarter due to a volatile retail sales environment, which has been impacting the company’s results since the last few quarters. (Read: Kohl's Misses on Q3 Earnings, Revenue Estimates)
We believe the Black Friday deals will surely attract consumers as the company has spent heavily on advertising to boost sales. Although this may put pressure on margins, increased sales during Thanksgiving, Black Friday and the holiday season may offset the lackluster earnings performance.
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