How Kohl's lost its way — and is trying to become relevant again

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Kohl's

was once a retail darling, carving out market share as a department store catering to the middle-income American consumer with coupons and deals that drove loyalty.

But over the past five years, Kohl's stock has lost nearly 70% of its value, plummeting as the retailer reported weak sales.

As department stores struggle to stay relevant and middle-income consumers face budget pressure, Kohl's is now trying to reinvigorate sales by leaning back into its core value proposition and investing in the store experience to ensure customers find what they need and keep coming back for more. Though Wall Street analysts believe the retailer has more work to do, investors have started to take notice: Kohl's shares have climbed more than 130% in the past year.