Kohl’s Corp. used its Thursday morning earnings call to announce a pilot program that will shrink five-to-10 of its stores by leasing space to low-priced supermarket chain Aldi.
Kohl’s KSS, +4.49% will lease a portion of the existing space at a store location and Aldi will become its next-door neighbor, occupying the newly-vacated portion.
“We believe the opportunity to leverage our real estate through this effort has benefits on both the top line with increased traffic and the bottom line through expense offsets, both fixed and variable,” Mansell said on the call, according to a FactSet transcript.
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