Today In Retail: Kohl’s Brings Cole Haan To Stores, Website; Shoe Carnival Net Sales Climb 5.8 Pct

In today’s top retail news, Kohl’s is bringing Cole Haan to 200 stores and its eCommerce website, while Shoe Carnival posted a 5.8 percent rise in net sales for the fourth quarter of fiscal 2020. Plus, RH reported record fourth-quarter and full-year results.

Kohl’s Brings Cole Haan Footwear To Stores And eCommerce

Kohl’s said that Cole Haan is now available at 200 of the department store retailer’s physical stores and its eCommerce site. “Cole Haan is a great example of the aspirational yet accessible offering that will excite our current customers and attract new customers to Kohl’s as well,” Kohl’s Chief Merchandising Officer Doug Howe said in an announcement.

Shoe Carnival’s Net Sales Rise 5.8 Pct Amid eCommerce Growth

Footwear retailer Shoe Carnival reported a 5.8 percent rise in net sales for the fourth quarter of fiscal 2020. As for its overall results, the firm reported net income per diluted share of 52 cents and net sales of $253.9 million for the fourth quarter of fiscal 2020. Shoe Carnival also said it anticipates “record” first-quarter sales and earnings.

RH Closes Record Year, Outlines Wildly Bullish Path For 2021 And Beyond

Restoration Hardware parent firm RH reported record fourth-quarter and full-year results Wednesday (March 24) while detailing an international expansion plan it said it will provide a 10x increase in sales in future years. “We ended 2020 with just less than $3 billion in net revenues and believe the data supports the RH brand reaching $5 to $6 billion in North America and $20 to $25 billion globally,” Chairman and CEO Gary Friedman said in a release.

Rite Aid Hurt By Weak Cold & Flu Season; Pre-Announces $60 Million Shortfall

Rite Aid’s stock plunged by nearly 20 percent on Thursday (March 25) after the retailer said that an almost 40 percent fall in its lucrative cough, cold and flu remedies business over the winter “significantly impacted” its quarterly results. The earnings and revenue pre-announcement took place only three weeks before its planned Q4 and full-year results on April 15.