Kohl's Corporation KSS announced an expanded relationship with Amazon.com, Inc. AMZN in which it will accept Amazon returns at all stores in the coming months.
What Happened
As part of a partnership that started in 2017, Amazon customers could bring their unwanted or damaged products to select Kohl's stores to be returned. The partnership expanded to 200 locations last month and Tuesday's announcement extends the relationship to every Kohl's location across the continental United States.
Kohl's will continue selling Amazon's hardware products in its stores, including smarthome products.
Why It's Important
Amazon and Kohl's share a "passion in providing outstanding customer service," Kohl's CEO Michelle Gass said in the press release. The partnership also leverages Kohl's strong footprint across the country with Amazon's omnichannel strength.
Kohl's stock gained more than 7 percent Tuesday morning following the announcement. This could be interpreted as a sign the department store established a competitive advantage within the crowded and competitive department store and retail segment.
What's Next
Amazon customers will be able to bring their products without a box or label to more than 1,150 stores across 48 states starting in July. Kohl's will accept the items and handle packaging and shipping for free as part of its commitment to driving innovation and traffic to stores.
Kohl's traded around $72.60 per share at time of publication.
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Photo courtesy of Kohl's.
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