Michael Bender on financial performance
From Kohl's Q1 2025 Earnings Conference Call - KSS · · Quarterly Visuals
“Our first quarter performance was ahead of our expectations and the actions we're taking are making progress with early signs of positive impact.”
On , Michael Bender, Interim Chief Executive Officer & Director at KOHL'S CORP, spoke about financial performance during Kohl's Q1 2025 Earnings Conference Call - KSS on Quarterly Visuals.
About Michael Bender
On Kohl's Q1 2025 earnings call, Bender stated that the company's performance was ahead of expectations and that early actions are showing positive impact. He highlighted a 10% increase in jewelry sales driven by Kohl's card customers and described Sephora at Kohl's as a "huge success," noting the launch of over 1,100 shops and a nearly $2 billion beauty business. Bender also announced a private offering of $360 million in senior secured notes, secured by 11 distribution centers, and said that following this refinancing, Kohl's nearest debt maturity is not due until 2029. Bender attributed gross margin improvement to a mix benefit from proprietary brands, stating that for every 100 basis points of penetration improvement, margins improve by 10 to 15 basis points. He emphasized inventory management as a key enabler for margin growth. Regarding tariffs, Bender said the company's global sourcing team has diversified production countries, and based on current actions, Kohl's believes it can achieve its financial guidance for the year. He also noted a phased approach to changes in coupon eligibility, with early reads showing a positive customer response.