The clothing selection at Kohl's is about to look a lot different.
The popular retailer plans on removing eight brands from stores, including several well-known names like Jennifer Lopez and Juicy Couture.
"Kohl’s is committed to creating assortments that are right for our customers. As CEO Michelle Gass mentioned on Kohl’s Q1 earnings call, we will exit eight downtrending women's private brands," a Kohl's spokesperson told TODAY Style.
The full list of brands leaving Kohl's stores includes: Dana Buchman, Jennifer Lopez, Mudd, Candies, Rock & Republic, Popsugar, Elle and Juicy Couture. A Kohl's representative told TODAY that cutting back on the brands offered in-store will "create space to introduce a more compelling and current offering to our customers, while improving the overall clarity to reduce choice counts."
The move comes after a tough quarter for the store, where net sales fell 43.5%, according to CNBC. Like other clothing stores, Kohl's has experienced declining sales in recent months due to temporary store closures despite a 24% increase in online sales last quarter. Gross margins also fell to 17.3% from 36.8% a year ago, and the store's stock has fallen more than 65% this year alone.
In an interview with CNBC, Kohl’s CEO Michelle Gass said the store has been understandably affected by coronavirus store closures. “I think this is the low point of the year,” she said. “For half the quarter, our stores had no sales.”
With many Americans facing layoffs and job furloughs due to coronavirus, the demand for clothing has naturally plummeted in recent months and many retailers are reevaluating their business models. In recent weeks, J.Crew, JCPenney and Neiman Marcus all filed for bankruptcy.
Similar to Target, Kohl's is known for their designer and celebrity collaborations and also carries lines from Vera Wang, Lauren Conrad and the Property Brothers. Even though the company will no longer sell some fan favorites, like Jennifer Lopez, the store still plans on offering exciting partnerships moving forward.
"As we continue to evolve our product portfolio, we’re proud to offer a lineup of new brands, partnerships, brand extensions, and merchandising experiences across all categories of business," a Kohl's representative told TODAY.