Kohl’s announced plans to close 27 underperforming stores across more than a dozen states in an effort to boost profitability. The closures, expected to be completed by April, represent a small portion of the retailer’s 1,150 locations. In a press release, Kohl’s emphasized its confidence in the overall health and strength of its profitable store base.
This decision is among the final moves by outgoing CEO Tom Kingsbury, who is set to step down on Wednesday. Kingsbury will be succeeded next week by Ashley Buchanan, the current CEO of arts and crafts retailer Michaels. To ensure a smooth transition, Kingsbury will remain with Kohl’s as an advisor to Buchanan and a board member until his retirement in May.
Kohl’s Corporation is a prominent American department store retail chain founded in 1962 and headquartered in Menomonee Falls, Wisconsin. As one of the largest department store chains in the United States, Kohl’s operates over 1,100 stores across the country, offering a diverse range of products, including clothing, footwear, accessories, beauty items, home goods, and more.
Kohl’s is known for its focus on delivering value to customers by offering frequent sales, discounts, and its Kohl’s Cash rewards program. The store features a blend of national brands like Nike, Levi’s, and Sephora alongside exclusive private-label products such as Sonoma Goods for Life and Croft & Barrow. The company’s partnership with Sephora has allowed it to establish mini beauty shops within its stores, enhancing its appeal to a broader customer base.
