The Long-Term Plan at Kohl's Isn't Too Impressive on the Surface
On Monday, Kohl's (NYSE: KSS) revealed new long-term financial goals at its investor day meeting. Based on the company's targets, it appears that Kohl's expects to grow quite slowly for the foreseeable future, despite the company's turnaround initiatives.
Investors weren't impressed, sending the stock down 13% on Monday. (To be fair, the broader market sold off, too.) However, notwithstanding this uninspiring long-term guidance, Kohl's looks like one of the best value stocks in the market today.
The company's biggest growth initiative of the past few years has been its partnership with Sephora. Last year, the department store chain opened Sephora boutiques in 200 of its stores and converted its online beauty offerings to a new collection co-branded with Sephora. It plans to expand its partnership with the popular beauty retailer to 600 stores later this year and at least 850 locations in 2023.
Source Fool.com
