Kohl’s Corp to Start Accepting Returns Purchased on Amazon

On Tuesday, Kohl’s Corporation, an American department store retailing chain, announced that it will start accepting returns on select merchandise for the online retailer company’s, Amazon.com, customers in 82 of its stores across Los Angeles and Chicago beginning in October.

The department store company said it would pack and ship eligible Amazon items for free, providing an additional service and convenience to Amazon customers within select Kohl’s stores. According to a report, there would be designated parking spots near the Kohl’s store entrances for those doing Amazon returns. While the service will allow Kohl’s customers to skip their local post office for Amazon returns, it also gets them into Kohl’s stores where they can shop.

“We are thrilled to launch this unprecedented and innovative concept, allowing customers to bring in their unpackaged Amazon returns to Kohl’s and we will pick them, ship them, and return them to Amazon for free,” said Kohl’s Chief Administrative Officer, Richard Schepp.

“This is a great example of how Kohl’s and Amazon are leveraging each other’s strengths, the power of the Kohl’s store portfolio and omnichannel capabilities combined with the power of Amazon’s reach and loyal customer base,” he added.

The move comes after Kohl’s announced its plans earlier this month that to open 1,000-square-foot Amazon areas, and it would sell Amazon’s devices, including the voice-controlled speaker Echo, Fire tablets, and other gadgets, at 10 of its stores in Los Angeles and Chicago. Shoppers can also have an Amazon employee come to their home and install a device or suggest smart home products to buy.Recently, Best Buy launched a similar program, which sends its employees to customer’s homes to recommend electronics.

“Amazon returns at Kohl’s creates a convenient location for Amazon customers to return eligible Amazon.com merchandise,” said Shivi Shankaran, Director of Worldwide Customer Returns at Amazon.

“Teaming up with Kohl’s provides an incredible opportunity to pair our world-class return experience with a great shopping experience, expanding our service options to our customers in the Los Angeles and Chicago areas.”

Kohl’s joined Sears Holding Corp., an American retail-store company, in teaming up with Amazon ahead of the holiday season as the online retailer puts a major dent in brick-and-mortar sales. It’s also further evidence of Amazon’s venture into retail locations following its acquisitions of Whole Foods Market and its 456 stores.

Meanwhile, Amazon.com Inc. traded 0.26%, or 2.52, to $971.67, by 9:58 AM GMT -4. It opened at $990.40, with a session high of $992.79, and a session low $968.17. Its market capitalization was 467.98 billion, with a P/E ratio of 245.81.

On the other hand, Kohl’s Corporation traded 4.34%, or 1.95, to $46.84, by 9:56 AM GMT -4. It opened at $45.21, with a session high of $45.80, a session low of $44.63. Its market capitalization was 7.57 billion, with a P/E ratio of 11.55, and a dividend yield of 4.90%.

Want to get updated on the latest news about the stock market? Subscribe now at Trade12. We will let you know the latest happenings about forex, commodities, and economies.