Dive Brief:
- Kohl’s added to its current tech leadership lineup with the appointment of Steven Dee as chief technology officer effective Aug. 25, the company announced Monday. Dee will report to interim CEO Michael Bender.
- Dee most recently served as global CIO and technology officer for skincare brand Rodan + Fields. He previously held leadership roles at Nike, J. Crew and Hayneedle.
- “As an omnichannel retailer, it’s critical for our business to have smart, agile tech solutions that both drive the work and enable operational effectiveness,” said Bender in the announcement. “Steve is well positioned to help accelerate our strategic goals and enhance the experiences we deliver to our customers and teams.”
Dive Insight:
Kohl’s leadership team has spent recent months executing on a turnaround plan under its interim CEO. Bender was appointed in May after the controversial firing of CEO Ashley Buchanan due to undisclosed conflicts of interest, only a handful of months into his tenure.
“We’re in the middle of the transformation — in early days, honestly, of it,” said Bender during a May earnings call. “The bottom line is that we’re trying to align the business to meet the needs of our customers.”
Despite ongoing efforts to boost the business, the company has reported several consecutive quarters of declining financial performance. Net sales fell 4.1% year-over-year during the three months ending May 3, with comparable sales — a key metric in the retail industry — also down 3.9%.
Inflation and an uncertain macroeconomic environment have weighed on consumer discretionary spending, adding to Kohl’s ongoing woes, UBS analysts said in a Monday client note.
“We expect demand from their core credit customer to remain sluggish in the near-term as the company works to rebalance their assortment towards the proprietary brands preferred by the core customers,” analysts said in the research note. “We also anticipate consumers continue to migrate spending towards other retailers with better value-for-money propositions.”
In July, the company tapped Arianne Parisi to serve as chief digital officer, following the departure of Siobhán Mc Feeney, the company’s chief technology and digital office in April. Parisi, a former JD Sports executive, has been tasked with improving Kohl’s digital experience.
Kohl’s move to redefine its tech leadership comes as the retail sector rushes to deploy AI capabilities at scale. Ralph Lauren, Williams-Sonoma and Revolve Group are among the businesses prioritizing AI tool deployment to enhance customer and employee experiences.
As adoption efforts advance, nearly half of U.S.-based retailers have established AI-focused teams, according to a survey published Tuesday by Monday.com. Almost one-quarter of companies have elevated AI to the boardroom by way of a dedicated C-suite AI leader.
