Kohl’s has announced plans to close 27 underperforming stores across 15 states, with all locations set to shut down by April. The closures are part of the retailer’s ongoing efforts to improve its profitability and adapt to changing market conditions.
The affected stores are located in Alabama, Arkansas, California, Colorado, Georgia, Idaho, Illinois, Massachusetts, New Jersey, Ohio, Oregon, Pennsylvania, Texas, Utah, and Virginia. Kohl’s has offered competitive severance packages to employees at the soon-to-shutter locations, as well as the option to apply for other positions within the company.
The retailer has also announced plans to close its San Bernardino E-commerce Fulfillment Center in California in May, citing increased efficiencies with new technology capabilities and expanded store fulfillment options. The closure of this facility is expected to result in pre-tax charges of $60-80 million.
Kohl’s CEO Tom Kingsbury stated that the company is taking “difficult but necessary actions” to support its long-term growth strategy. The retailer has reported a 6% decrease in net sales compared to the same period last year, with net income reaching $61 million over the first three quarters of 2024.
Source: https://www.foxbusiness.com/retail/kohls-closing-27-stores-15-states-heres-where-theyre-located