2 Min Read
Feb 23 (Reuters) - Kohls Corp
* On conf call- Q4 average transaction value increased 3.8 percent
* On conf call- accessories weakest catgeory in q4
* On conf call- Q4 transactions per store declined 6 percent
* On conf call- $350 million of $700 million full-year capex for it spending
* On conf call- national brands were 54 percent of total sales in 2016
* Localization efforts now impact about 85% of assortment, they are having a positive impact on sales as well as reducing inventory levels
* Mobile devices account for 50 percent of our online traffic
* Have launched a profit improvement project "to take significant expense out of our company", expect some impact this year, majority impact will be in 2018 and 2019.
* Believe that overall we have retained about a third of sales from stores closed last year
* Expect more significant improvement in gorss margin in Q1 with remainder of the year with very modest improvement
* CEO- "we will achieve a rationalization of square footage over time, not necessarily fewer stores but probably less square footage"
* CFO- "500 of our 1,150 some stores are going to be run like a smaller store... We are looking for opportunities to bring in other retailers to take that square footage that we are able to carve out to drive some additional traffic "
* CEO- "we've really dramatically reduced inventories this year so our clearance levels and fall transitional inventories are way down compared to last year"
* CEO- Under Armour could have an impact of as much as 100 basis points in the overall company comp for the year Further company coverage: