- After a successful first year, department store chain Kohl's ( NYSE: KSS ) and beauty retailer Sephora have announced the planned expansion of their partnership.
- To mark one-year anniversary of Sephora at Kohl's, the retailers announced on Thursday expansions plans that will include a Sephora presence at all of Kohl's 1,100+ locations.
- The Sephora at Kohl's concept was launched in 2021, with the aim to open in 850 Kohl's stores by 2023. Kohl's opened 200 stores in the fall of 2021, followed by an additional rollout of 400 more locations this summer.
- The partnership has proved to be mutually beneficial to both retailers, with the first 200 locations opened in 2021 maintaining a high-single digit percent sales lift, relative to the rest of the chain. In addition, a mid-single digit percent sales lift has been reported in the ~400 stores opened this year.
- In other news, Kohl's ( KSS ) reported its second quarter results today
- Shares are currently down 6% in response to the results and annual guidance cut
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Kohl's announces planned expansion of partnership with Sephora