The challenge: Kohl’s CEO Ashley Buchanan, who took the helm in January, faces the daunting task of reviving a struggling department store chain that has suffered 12 consecutive quarters of declining sales and a 65% drop in market cap over the past year.

• Buchanan must course-correct after years of missteps from prioritizing new categories, sidelining staple products like fine jewelry, and limiting coupon eligibility for too many brands alienated core customers.
• The tough retail landscape underscores why Kohl’s expects net sales to decline 5% to 7% YoY, with comparable sales falling 4% to 6%.