When Kohl’s Corp. on Monday announced it was getting a new chief executive next year, investors got suspicious. On Tuesday, the department-store chain confirmed those suspicions, reporting results that missed expectations and sending shares sharply lower.

But Kohl’s outgoing CEO Tom Kingsbury had no trouble this week owning up to mistakes that led to a steep drop in the retailer’s quarterly sales.Kohl’s scaled back popular private-label brands, fine jewelry and petite clothing sizes—moves that turned off shoppers and contributed to a 9.

Kohl's CEO Tom Kingsbury will step down after less than two years at the helm, paving the way for former Walmart executive Ashley Buchanan to take on the role as the department store chain looks to execute a turnaround.

Kohl's shares fell sharply on Tuesday after the company's earnings missed Wall Street estimates and following its announcement that CEO Tom Kingsbury will step down in January. The weak forecast underscores an uncertain holiday season for the retail sector ...

Kohl’s has announced the appointment of Ashley Buchanan as CEO and Board Member, effective January 15, 2025. Current CEO, Tom Kingsbury plans to step down on the same date. He will retain an Executive Advisory Role and Board Seat through his retirement in May 2025.

Kohl’s surprise CEO departure announcement a day before its quarterly results will play on the minds of investors, who were looking out for a positive forecast from the struggling department store chain ahead of the key holiday shopping season.

Kohl’s has appointed former Walmart executive Ashley Buchanan as chief executive as the department store aims to lure back its value-seeking customer base amid falling sales.

The current CEO of Michaels will step into the top job at Kohl's in January and will have to address the chain's soft performance in apparel.

Buchanan led The Michaels Companies as CEO since 2020. In 2021, he helped make a deal with Apollo Global Management to take the company private.