Kohl’s Corp. KSS recently announced that it would keep its stores open for more than 170 hours straight from 7 a.m. on Dec 17 through 6 p.m. on Christmas Eve, i.e. Dec 24. The initiative to extend store hours would not only help customers in their last minute shopping, but will give them exclusive savings opportunities on Super Saturday (Dec 19), and services such as buy online, pick up in store; enhanced mobile payment options and gift cards and e-cards.
On Super Saturday, customers will get eye-popping offers on various items ranging from the most popular licensed toys to must-haves jewelry to an expansive assortment of active wear for the entire family. These early bird deals will be available from 6 a.m. to 1 p.m. on Super Saturday in stores and online.
In addition, customers can take advantage of the other savings opportunities which will be available through Dec 24. Customers can save 30% on their first day's purchase when they open a Kohl’s Charge account at stores nationwide. Then they can earn reward points under Yes2You Rewards after every purchase. With the option to redeem points along with the discounted prices, customers can maximize their savings.
We note that Kohl’s intends to make the most of the upcoming holiday season in order to boost its top line. Lower spending on apparel and accessories and a general slowdown in consumer spending is hurting sales at department stores.
In fact, retailers are on their toes during the holiday season, flooding the markets with offers and promotions. They attract buyers off with early-hour store openings, huge discounts, promotional strategies, and free shipping on online purchases. Since the season accounts for a third of their annual sales and generates nearly 40% of their profits, retailers grab every opportunity to drive footfall.
Moreover, given the rebounding U.S. economy, the retail space is brimming with optimism. Hence, retailers will leave no stone unturned to make the most of this season. A gradual recovery in the housing market and manufacturing sector, along with an improving labor market and lower gasoline prices, have raised buyers’ confidence. We believe Kohl’s is poised to benefit from these deals in the upcoming holiday season.
Like Kohl’s, other retail bellwethers such as Wal-Mart Stores Inc. WMT, Target Corp. TGT, and J. C. Penney Company, Inc. JCP are also counting upon a similar game plan to attract shoppers.
Kohl’s has a Zacks Rank #3 (Hold).
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