$5,654 $m
Kohl’s reported its weakest sales growth in three years. When Kohl’s raised prices due to higher apparel costs, customers made fewer trips, buying less per visit. This year, the company will allow margins to suffer rather than pass along its costs. Online, however, business hit USD $1 billion in sales, up double digits over the previous year. The family-focused retailer continues to expand into other markets; most of its new store openings have been small formats (64,000 square feet vs. 88,000 square feet).