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Kohl's will sublet space in some 300 stores to other retailers, such as supermarkets and convenience stores, CEO Kevin Mansell told CNBC.
Kohl's stores average 87,000 square feet each in size, and in some locations the company can operate more profitably in a smaller space, Mansell said.
Food retailers are the most coveted co-tenants, he said. "If we had our preference, we are going first after well-capitalized companies, and preferably ones that have high traffic in grocery and convenience," Mansell said. "We are more apt to identify strong partners and then build a pathway with them through this pilot phase."
By Brannon Boswell
Executive Editor, Commerce + Communities Today
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