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A Kohl’s sign hangs outside a building in Miami, Florida, March 12, 2024. Kohl’s stock fell after it reported a drop in same-store sales in the fourth quarter.
Joe Reddle | Getty Images
Milwaukee-based department store giant Kohl’s It will not sponsor any Republican National Convention This summer in that city, Donald Trump will be crowned Partiespresidential candidate.
“Kohl’s is not a political organization or donor and has not sponsored or participated in any specific RNC events,” a spokesperson for the company told CNBC. “We support the business community through the Metropolitan Milwaukee Business Association.”
The convention is expected to draw about 50,000 people to Beer City July 15-18 and culminate on the final night of the convention with Trump all but certain to accept his party’s nomination.
The announcement comes as Republicans and Democrats scramble to Securing corporate support for party conventions Many big brands are trying to stay out of politics right now.
Of Wisconsin’s largest Fortune 500 companies, the top two plan to directly sponsor the conference: Northwestern Mutual and Fiserv. The next two companies, ManpowerGroup and Kohl’s, do not.
ManpowerGroup told CNBC it will support the nonprofit Milwaukee 2024 Olympic Host Committee by donating to the Metropolitan Milwaukee Commerce Association (MMAC).
“We did not provide funds directly to the RNC, but MMAC provided funds on our behalf and on behalf of others, just as they did for the DNC (Democratic National Convention).” spokesman explain.
On the other hand, Northwestern Mutual Life Insurance Company is a member of the host committee and its CEO John Schlifske is reportedly helping the organization raise funds.
Trump narrowly won Wisconsin in his first presidential campaign in 2016. But he lost the state to President Joe Biden in 2020. Both Republicans and Democrats consider the state a must-win this November.
Kohl’s has not contributed money to the Republican or Democratic National Conventions in more than a decade, according to Federal Election Commission filings.
In 2002, the company donated $10,000 to the Republican National Committee’s state election committee, according to Federal Election Commission records, with much of the money going to support the Republican state party. The state’s late Democratic Sen. Herb Kohl served as president of the company his family founded until the late 1970s.
Notably absent from the list of GOP convention sponsors is Kohl’s, as convention organizers have publicly touted the importance of Wisconsin companies in funding and organizing the event.
Reince Priebus, former Trump chief of staff and chairman of the New York City Hospitality Committee, told Wall Street Journal Nearly every Fortune 500 company in Wisconsin has pledged financial support. The Republican convention aims to raise about $70 million.
Representatives for the Republican National Committee and the Milwaukee host committee did not respond to requests for comment.
Kohl’s decision to hold off on donating to the conference coincides with the company’s renewed efforts to find its footing in a competitive market.
Kohl’s is seeking a turnaround and trying to capitalize on its locations in suburban malls, especially as rival Macy’s Inc. Closing about 150 stores of the same name.
However, the company’s sales have been shrinking, and Reliance on an aging customer base As it battles an expanding array of retail rivals, including Target, Shein and Amazon.
Kohl’s Stock Down more than 20% Earlier this month, the company’s earnings and revenue missed Wall Street expectations.
The company has been trying to attract younger shoppers by opening more Sephora stores within Kohl’s, adding Babies R Us stores and expanding its fashion assortment with more fashion-forward apparel and a larger home decor department.
CNBC’s Melissa Repko contributed to this report.
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