Kohl’s, one of America’s largest department store chains, is betting big on its new CEO, Ashley Buchanan, to turn things around. The retailer has been struggling for years, with sales dropping for 11 straight quarters and its stock value plummeting by nearly 50% in the past year. Buchanan’s challenge? Winning back customers who’ve grown frustrated with the brand’s recent missteps.

The problems at Kohl’s aren’t entirely unique. The retail industry as a whole has been hit hard by competition from online sellers, high inflation, and the lingering effects of the pandemic. But Kohl’s has also made some questionable moves that alienated its core shoppers. Under former CEO Tom Kingsbury, the chain cut back on private-label brands and petite clothing sizes, replacing them with Sephora cosmetics and Babies “R” Us shops. While Sephora sales grew, it wasn’t enough to offset losses in other areas like apparel and jewelry.

“Kingsbury disconnected from their core customer,” said one expert. “The changes made longtime shoppers feel betrayed.” Kingsbury himself admitted the strategy didn’t work, promising to bring back petite sizes and private-label apparel while reintroducing fine jewelry in select stores. But will it be enough to win back trust?

Buchanan now faces the tough job of redefining Kohl’s identity. The chain’s core customers—value-oriented, middle-class shoppers—want affordable, quality clothing, not a “premium feel” that doesn’t align with their expectations. “Once customers leave, they find other alternatives,” said another industry insider. “It’s not guaranteed they’ll come back.”

Kohl’s isn’t alone in its struggles. Over 7,300 retail stores closed last year, the highest number since 2020. Brands targeting middle-income shoppers, like Kohl’s, have been hit especially hard as inflation squeezes budgets and customers flock to discount stores like Walmart.

The road ahead for Kohl’s is steep, but Buchanan’s leadership could be the key to a much-needed revival. Will the retailer rediscover its unique appeal, or will it continue to lose ground in an increasingly competitive market? Only time will tell.