In this episode of “From the Newsroom,” host Evan Clark welcomes WWD’s retail editor, David Moin, to discuss the abrupt firing of Kohl’s chief executive officer Ashley Buchanan after less than four months in the role. Buchanan was terminated for cause due to an alleged undisclosed romantic relationship with a woman connected to Kohl’s vendors — potentially leading to the company ordering from those vendors.
[To listen to the episode, CLICK HERE.]
Moin emphasized the unusual nature of a CEO being fired so quickly, especially as Buchanan was in the midst of developing a turnaround plan for the struggling department store chain. Moin said Kohl’s has faced difficulties despite previous turnaround efforts and is now facing a “perfect storm” of challenges, including a leadership vacuum, uncertain consumer spending, potential tariffs, declining sales and increasing debt.
The speakers discuss Kohl’s previous strategies, such as introducing big-name brands and the Sephora partnership, and suggest that focusing on strengthening their private label brands such as Simply Vera and Sonoma could be a promising path forward.
