Kohl’s has announced the appointment of Ryan Waymire as its new chief merchant, starting on September 28th. Waymire, a former Walmart fashion executive with experience at Wayfair, FabFitFun, Amazon, and Target, will succeed Nick Jones, who has held the role for over three years. CEO Michael Bender will oversee Waymire’s transition into his new position.
Company Performance and Merchandise Strategy
The retailer recently reported net sales of $3.3 billion for the second quarter, showing a minimal year-over-year decline of less than 1%, with comparable sales also slightly down. Despite these slight declines, Kohl’s private label brands have shown growth, with a 3% increase in comparable sales. This marks a continuation of the retailer’s efforts to reinvigorate its private labels, which include popular lines such as Simply Vera Vera Wang, Lauren Conrad, and FLX.
Waymire is tasked with shaping Kohl’s merchandising strategy, which involves buying, product design and development, allocation and planning, sourcing, and omnichannel merchandising. His predecessor, Nick Jones, held a dual role, steering both merchandising and digital operations.
Challenges and Strategic Focus
Michael Bender expressed confidence in Waymire’s ability to innovate and integrate collaborations into product offerings, which is expected to modernise Kohl’s merchandise selection. Bender highlighted Waymire’s expertise in aligning product strategies with customer preferences, suggesting this will be central to the company’s merchandising plans.
Despite positive signals, there are concerns. Kohl’s Q2 growth in private labels showed a slowdown compared to a 6% rise in the previous quarter, attributed to inventory constraints, especially in women’s clothing. Analyst Jay Sole from UBS pointed out that this deceleration is significant as proprietary brands are key to customer engagement and value perception.
Looking forward, Kohl’s faces ongoing challenges, especially against growing competition from off-price retailers. Analysts have noted that maintaining and expanding market share will be a crucial hurdle for Kohl’s to overcome.
Reporting based on coverage first published by retaildive.com.