Kohl’s Kills Three Executive Positions

One of several department store chains struggling with falling sales from sluggish foot traffic in physical stores, Kohl’s is apparently restricting its executive team.

According to reports late last week, Kohl’s has eliminated three senior executive titles: chief digital officer, senior vice president of store environment and development, and senior vice president of communications and public relations. The three people currently in those jobs were informed of the company’s decision on Thursday.

According to a spokesperson, the moves were made in an effort to make the retail chain more agile going forward.

Kohl’s, like many in its sector, has fallen on tough times. Sales growth has been basically flat, but profitability has been on the decline. The retailer reports its full-year earnings later this month, and few are expecting much in the way of inspiring news when it comes to same-store sales or revenue.

Kohl’s is attempting to reverse the trend, and is aiming to increase sales by $21 billion by 2017. But that goal is looking increasingly like a moon shot, with sales growth edging up only 1 percent during the first nine months of 2015.  In response to such tepid results, Kohl’s has already revised its earnings estimates down for the year.

In total, Kohl’s has lost 40 percent of its share value over the last year, and is becoming an increasingly speculated upon target for activist investors.