JERSEY CITY, N.J.
– Kohl’s has space in around 300 stores after “right-sizing” them, and is
courting convenience and grocery stores to use those areas, CNBC
reports. The department store downsized its merchandise area within the
87,000-square-foot store to create smaller, more profitable locations, leaving
unused space it’s now looking to fill, according to CEO Kevin Mansell.
“If we had our
preference, we are going first after well-capitalized companies, and preferably
ones that have high traffic in grocery and convenience,” he said. “We are more
apt to identify strong partners and then build a pathway with them through this
potential partners, Kohl’s offers plenty of parking, foot traffic and good
locations. By adding a convenience store or supermarket, the dual location
would be better positioned to compete against retailers like Walmart or Target.
that not all of the 300 stores with space available would lease the area to
other retailers. Kohl’s also could join with retailers on group rollouts or as
single ones. The department store already partners with Amazon, selling branded
products and accepting returns.
“We want a
partner, ideally in food or convenience, to help drive traffic,” Mansell said.
The company will announce plans during the March earnings call.