Kohls.com sales growth is the highlight of the retail chain’s Q4
February 4, 2016 02:33 PM
Kohl’s Corp. says online orders and sales grew approximately 30% during an otherwise weaker-than-expected Q4, with some omnichannel capabilities the department store chain rolled out earlier in the year contributing to that growth.
A Securities and Exchange Commission filing Kohl’s submitted today provides a preview of the retailer’s full Q4 financials.
The retailer says Q4 comparable-store sales increased 0.4%, and total sales increased 0.8% during the quarter, which ran from Nov. 1 to Jan. 31. Both measures factor in online sales revenue. Overall sales were “very volatile and less than planned in the fourth quarter,” Kevin Mansell, Kohl’s chairman, CEO and president said in a prepared statement. Kohl’s lowered its earnings guidance range for the full fiscal year 10-15%.
The silver lining in the quarter, however, was that omnichannel capabilities, including buy online, pickup in store and buy online, ship from store “really resonated with our customer,” he says. Kohl’s completed the rollout of buy online, pickup in store capabilities to its 1,166 stores during the second quarter. It also relaunched its mobile site in September in preparation for the holiday season. In a November earnings call, Mansell said more than half of Kohls.com traffic is mobile and that there had been a “dramatic improvement” in the number of consumers completing their orders on mobile devices.
Kohl’s will release its full Q4 and fiscal 2015 financials Feb. 25. Kohl’s is No. 22 in the Internet Retailer 2015 Top 500 Guide.