11/12/12

Kohl’s Q3 web sales shoot up by 50%

E-commerce sales account for 6.6% of total sales in the third quarter.

Bill Briggs , Senior Editor

Kohl’s Corp. is paying more attention to e-commerce and it’s paying off in sales growth, especially in the just-completed third quarter

For the third quarter ended Oct. 27, Kohl’s, No. 28 in the 2012 Internet Retailer Top 500 guide, reported:

Web sales accounted for 6.6% of total sales compared with 4.5% in the third quarter of 2011.

E-commerce growth was fueled by an improved conversion rate and higher web traffic, Wesley McDonald, chief financial officer, told analysts on the company’s earnings call last week. “We’ve invested a lot of money in digital marketing this year to drive traffic to the site,” he said. “We just installed guided navigation recently, and we expect that to be a benefit for the holiday season. And we’ve also increased the number of SKUs we have available online.”

McDonald did not disclose the e-commerce investment figure or the number of SKUs added online.

Kohl’s also is testing shipping online orders from stores on a very limited basis, McDonald said. The service could be in place for the 2013 holiday season, he said.

For the first nine months:

Web sales accounted for 6.0% of total sales compared with 4.3% in the first nine months of 2011.

Topics:

Kohl's, Kohl's Corp., Kohl's earnings, online sales, Q3 2012 financials, retail chain earnings, Top 500, Wesley McDonald

NEWS CATEGORIES Back to Top...