According to a CNBC report, the retail partnership between Amazon and Kohl’s is working, regardless of the retailer’s reported dismal holiday sales.
“I get this question, ‘Is Amazon working?’” Gass said Sunday at the National Retail Federation’s annual Big Show in New York, in an interview with CNBC’s Courtney Reagan. “Amazon is working. This returns program is working. We’re seeing the traffic. We’re getting new customers.”
Kohl’s same-store sales dropped 0.2 percent this past November and December, leading retail analysts to question the joint venture with Amazon. Some say it isn’t turning out to be all that Kohl’s hyped it up to be. Some say it is benefiting Amazon more than it is Kohl’s. Kohl’s is expected to report its fiscal fourth-quarter earnings on March 3 and is scheduled to hold its annual investor meeting March 16.
“We’re getting a younger customer,” Gass said Sunday. “And to what we expected, some of them were buying. … You’re never going to get 100%. But some of them are buying. I’m very confident around where we’re going.”