Kohl’s plans to shut 27 of its underperforming shops by April 2025 as a part of the struggling retailer’s transformation course of.
The Menomonee Falls, Wisconsin-headquartered firm – pressured by declining gross sales – stated that each one workers on the closing shops “have been knowledgeable, and provided a aggressive severance bundle or the flexibility to use to different open roles at Kohl’s,” in line with a Jan. 9 press launch.
“Whereas Kohl’s continues to imagine within the well being and energy of its worthwhile retailer base, these particular places had been underperforming shops,” the corporate stated.
An indication hangs above the doorway of a Kohl’s retailer in in Lincolnwood, Illinois on March 1, 2023.
Additionally closing: an e-commerce success heart in San Bernardino, California, in operation since 2010, shuttering in Could 2025. The corporate can now fulfill buyer orders from retailer places, with out the success heart, Kohl’s stated.
“We at all times take these selections very critically,” stated CEO Tom Kingsbury, who will step down as CEO on Jan. 15. “As we proceed to construct on our long-term progress technique, it is crucial that we additionally take troublesome however obligatory actions to help the well being and way forward for our enterprise for our prospects and our groups.”
Ashley Buchanan, previously CEO of Michaels Corporations, will take over as Kohl’s CEO on Jan. 15. Kingsbury will stay on as an advisor and serve on the corporate’s board by his retirement in Could 2025.
Kohl’s stated in November 2024 it expects 2024 gross sales to be down 7% to eight%. The retailer experiences its full-year gross sales in February.
Kohl’s had added Infants R Us outlets, like this one in Woodland Park, New Jersey, in 200 of its shops to assist offset declining gross sales in different classes.
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Kohl’s plans to shut 27 shops by April 2025. That may depart the retailer with greater than 1,120 places.
Here is a listing of the Kohl’s shops closing by April 2025, by state.
Balboa (San Diego): 5505 Balboa Ave.
Encinitas: 134 N El Camino Actual
Fremont: 43782 Christy St.
Mountain View: 350 Showers Dr.
Napa: 1116 1st St.
Pleasanton: 4525 Rosewood Dr.
Level West (Sacramento): 1896 Arden Means
San Rafael: 5010 Northgate Dr.
San Luis Obispo: 205 Madonna Rd.
Westchester: 8739 S Sepulveda Blvd.
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