Post by Deleted on Mar 6, 2019 11:47:38 GMT -5
Kohl's plans to shrink stores, add Planet Fitness gyms
Instead of shop until you drop, shop until you drop into the gym for a workout? Kohl's thinks that may work.
So it's making some of its stores smaller and leasing out space to gyms and supermarkets.
On Tuesday, Kohl's said it would lease out space to Planet Fitness next to 10 of its stores in 2019. If the experiment takes off, Kohl's could expand the partnership to more locations.
Teaming up with Planet Fitness is Kohl's CEO Michelle Gass' latest creative tactic to court customers. Last year, the retailer announced a pilot program with supermarket chain Aldi to lease out space at up to 10 stores. Kohl's has more than 1,100 locations around the country.
"We see the Planet Fitness partnership as a real win-win," Gass told analysts on an earnings call Tuesday. "This going to be a great fit for us and for our customers."
Downsizing its existing space is also part of the strategy. Kohl's says it saves money by carrying less inventory and employing fewer workers. And the company says the smaller spaces are easier for customers to navigate.
Kohl's has been partnering with more businesses to future-proof its business in other ways as well. The retailer joined with Amazon in 2017 to offer free online returns and mini-Amazon shops within some stores. It has expanded those tests with Amazon to more stores.
www.stltoday.com/news/kohl-s-plans-to-shrink-stores-add-planet-fitness-gyms/article_09ddc93d-cc88-5703-a50e-18f915070e08.html#utm_source=stltoday.com&utm_campaign=Morning%20Dispatch%20Newsletter&utm_medium=WhatCounts&utm_content=FCA1EF4A13B46079A4C5362BDDD113FC6729F5F2
Not a bad idea. We all need to get up and move a lot more.