Retail and consumers

Kohl’s president, COO exits after less than a year

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On Friday, Kohl’s announced in a Securities and Exchange Commission filing that Dave Alves, president and chief operating officer, has left the company. Alves was appointed by the retailer in February and started in April, with three decades of experience in retail, including stints at Bealls Retail Group, TJX Canada and TJX Europe, Hudson’s Bay and Sterling Shoes.

In a statement, a Kohl’s spokesperson said that Alves left to pursue other opportunities. “We thank Dave for his leadership and wish him all the best in his future endeavors,” the company said.

The department store has struggled in recent years, inviting activist investor pressure to sell itself or at least some of its real estate and shake up its C-suite. Alves arrived after interim CEO Tom Kingsbury took that job permanently. Michelle Gass had left as chief executive to join Levi’s.

In its most recent quarter, Kohl’s store comps were down 5% year over year, and profits plunged 60%. Cost-cutting helped the company remain in the black for the period. The company reports its Q3 results on Tuesday.


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