Kohl’s is set to close 27 underperforming stores in various states as part of its efforts to improve profitability and streamline operations. This move is a small fraction of Kohl’s total 1,150 stores.
Struggling with Changing Consumer Behavior
Facing challenges from shifting consumer behavior, Kohl’s has experienced a decline in sales, particularly during the holiday season. The company is focusing on strengthening its profitable store base to ensure long-term growth.
Leadership Transition
This decision comes under the leadership of outgoing CEO Tom Kingsbury, with Ashley Buchanan set to replace him as CEO, bringing in fresh leadership to guide Kohl’s through this transformation.
Industry-Wide Trend
The closures are part of a larger trend, as other major retailers, like Macy’s, are also closing stores due to inflationary pressures and evolving consumer behavior.
Affected Store Locations
The closures will affect stores in several states, including California, Texas, Illinois, and New Jersey. A full list of the locations slated for closure is available for review.
