Kohl’s’ CEO Kevin Mansell was reported telling CNBC the company plans to partner with grocery convenience retailers to lease space left by the roughly 300 stores it “right-sized” during the past several years.
“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 at the ICR’s conference. “We are more apt to identify strong partners and then build a pathway with them through this pilot phase,” he said. “It’s not about Whole Foods, Aldi, or anybody else, we want a partner, ideally in food or convenience, to help drive traffic.”
Kohl’s’ partners will be able to take advantage of real estate assets and the company’s footfall. Kohl’s new format will compete with retailers such as Target and Walmart in terms of product offering. The company plans to announce news about these efforts on its next earnings call, which is scheduled for March 1.