Kohl's stock lost nearly 70% of its value over five years due to weak sales.
The company is now trying to revive sales by emphasizing its core value proposition and investing in store experience. CEO Michael Bender stated that the company is focusing on understanding its customer base.
The retailer had previously alienated core customers by changing product assortment, limiting coupons, and leaning into off-price retail. Analysts note that Kohl's faced increased competition from Walmart, T.J. Maxx, and online retailers like Amazon.
The company reported revenue of $20.23 billion for fiscal year ending February 2019, with a stock peak of $82 per share in late 2018.
Kohl's shares have climbed over 130% in the past year.