In this file:
∑ Kohlís plans to add grocery to drive traffic
∑ Kohl's to partner with grocers or convenience stores to fill vacant store space
Kohlís plans to add grocery to drive traffic
Food retail would have separate entrance in downsized stores: report
Mark Hamstra, Supermarket News
Jan 11, 2018
Department store operator Kohlís is seeking to partner with a food retailer to help drive traffic to its stores, according to reports.
The Menomonee Falls, Wis.-based chain is seeking ďwell capitalized companiesĒ that can drive traffic in grocery and convenience retailing, the chainís CEO, Kevin Mansell, told CNBC at the ICR Conference in Orlando, Fla.
Kohlís has streamlined the offering in hundreds of its stores, and plans to use the excess space in at least some of those locations to showcase grocery items that draw customers to its stores more frequently, CNBC reported. The retailer operates more than 1,100 stores, most of which measure between 80,000 and 90,000 square feet, in 49 states.
Rival retailers such as Target, Walmart and Kmart have long incorporated extensive food offerings in their stores.
However, unlike those retailersí grocery operations, the grocery stores that partner with Kohlís would have their own entrances and would be separated from Kohlís by an internal wall, according to a report in the Milwaukee Journal Sentinel...
Kohl's to partner with grocers or convenience stores to fill vacant store space
††† Kohl's plans to partner with retailers like grocery stores or convenience stores to lease space in its stores.
††† The department store has made roughly 300 of its stores operationally smaller, leaving white space.
††† Grocery and convenience stores can be strong traffic drivers.
Lauren Hirsch, CNBC
10 Jan 2018
Kohl's plans to partner with retailers like grocery stores or convenience stores to lease the white space left by the roughly 300 stores it has "right-sized" over the past several years, CEO Kevin Mansell told CNBC at ICR's conference this week.
The department store has created operationally smaller, more profitable stores within its roughly 87,000-square-foot boxes. That downsizing leaves unused footage, which Mansell said would benefit from traffic-generating retailers like those that sell food.
"If we had our preference, we are going first after well-capitalized companies, and preferably ones that have high traffic in grocery and convenience," Mansell said.
The Menomonee Falls, Wisconsin-based retailer has already identified "a whole list of partners" to roll out across a number of its stores.
"We are more apt to identify strong partners and then build a pathway with them through this pilot phase."
For potential Kohl's partners...
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