After opening retail locations in four states, Kohl’s said it intends to open stores in 10 more states on Monday (May 11) as it follows a phased approach to retail reopening. The company said in an announcement that it will also open further retail locations in the weeks to come with “the same deliberate, measured approach.”
Kohl’s said it would welcome shoppers and staffers back to all locations in Arizona, Alabama, Georgia and Texas, among other states in addition to a “majority” of shops in Tennessee and Florida. The retailer had opened stores again on Monday (May 4) in South Carolina, Utah, Oklahoma and Arkansas.
“We are pleased to begin welcoming our customers back to Kohl’s,” CEO Michelle Gass said in the announcement. “As we all adjust to a new normal, we will continue to provide the easy and efficient store experience that Kohl’s customers love, while implementing many new rigorous procedures that prioritize the safety of our associates and customers.”
Kohl’s said shoppers can anticipate changes at its locations to support continuing wellness and safety procedures. The retailer, in one case, has put protective shields into place at all checkouts and will provide touchless payment via Kohl’s Pay “to make the checkout experience as contactless as possible.”
The retailer also noted that floor decals and signage have been put in the stores to promote social distancing. And it noted that hand sanitizer will be “readily available” at every checkout and in the store for use by shoppers.
The news comes as reinventing retail in the wake of the coronavirus may mean reinventing retail formats. Non-essential locations, with the inclusion of malls, will have to take into account old issues such as total footprint and new ones like social distancing.
Walmart, in one case, had made moves such as encouraging all shoppers to wear face masks and restricting the number of individuals inside of retail locations, among other measures, per a past report.
Massachusetts’ securities regulator is reportedly investigating Robinhood’s newly launched prediction-markets hub.
Secretary of State Bill Galvin told Reuters on Monday (March 24) that his office sent a subpoena to Robinhood seeking copies of the company’s marketing materials and information about how many of the company’s brokerage account users in the state have requested to trade college sports events contracts.
“This is just another gimmick from a company that’s very good at gimmicks to lure investors away from sound investing,” Galvin told Reuters, speaking of Robinhood’s prediction-markets hub.
The growing popularity of event contracts has drawn criticism from some who liken them to gambling, according to the report.
Galvin told Reuters, per the report, that he is concerned about linking an event that’s popular with young people to a brokerage account.
A Robinhood spokesperson said in a statement provided to Reuters that the events contracts it offers are regulated by the Commodity Futures Trading Commission and offered through CFTC-registered entities.
“Prediction markets have become increasingly relevant for retail and institutional investors alike, and we’re proud to be one of the first platforms to offer these products to retail customers in a safe and regulated manner,” the statement said.
Robinhood announced March 17 that it added a prediction markets hub to its app, allowing users to trade on the outcomes of events.
The company said at the time in a press release that the first contracts, which started rolling out that day, covered what the upper bound of the target Fed funds rate would be in May and who would win the men’s and women’s college basketball tournaments.
“We’re excited to offer our customers a new way to participate in the prediction markets and look forward to doing so in compliance with existing regulations,” JB Mackenzie, vice president and general manager of futures and international at Robinhood, said in the release.
In an earlier, separate case, Galvin said in January 2024 press release that Robinhood agreed to pay a $7.5 million fine and overhaul its digital engagement practices to settle a 2020 case he brought that accused the company of using gamification strategies to “attract and manipulate” customers.
The settlement also addressed issues having to do with a 2021 data breach, Galvin said in the Jan. 18, 2024, release.
