Kohl’s Chief Executive Michelle Gass said there is plenty of room for the retailer and Amazon to operate brick-and-mortar stores, despite the two already working together through Kohl’s locations.
“Retail is vast, and there’s a lot of market to be had,” Gass told CNBC Tuesday afternoon, during a CNBC Evolve livestream event. “We always have to be raising the bar.”
Gass’ comments come after a report in The Wall Street Journal said that Amazon is planning to open large locations that resemble department stores. The stores are expected to hold both apparel and tech products, the paper said.
Shares of Target, Walmart and Best Buy fell on the news, as investors worried a roughly 30,000-square-foot Amazon department store would go head-to-head with those retailers in strip malls.