Department store chain Kohl’s plans to partner with retailers, including convenience stores, to lease store space to them in an effort to drive foot traffic, according to multiple reports.
About 300 Kohl’s locations are left with unused space after the chain downsized select units. This leaves room for stores within stores, such as the recent Amazon pop-ups in some locations.
"If we had our preference, we are going first after well-capitalized companies, and preferably ones that have high traffic in grocery and convenience," CEO Kevin Mansell told CNBC at the ICR investment conference in Orlando. The Menomonee Falls, Wis.-based retailer would consider partnerships with competitors, he added, though not all of the roughly 300 downsized stores will necessarily lease space.
"It's not about Whole Foods, Aldi or anybody else. … We want a partner, ideally in food or convenience, to help drive traffic," said Mansell.
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