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-based firm, underneath strain from declining gross sales, mentioned all staff on the closing shops “have been notified and supplied a aggressive severance bundle or the chance to use for different open roles at Kohl’s,” based on a January report. 9 press release.
“While Kohl’s continues to imagine within the well being and power of its worthwhile retailer base, these particular places have been underperforming,” the corporate mentioned.
Also closing: An e-commerce success middle in San Bernardino, California, in operation since 2010, which can shut in May 2025. The firm can now fulfill buyer orders from shops, with out the success middle, Kohl’s mentioned.
“We at all times take these selections very critically,” mentioned CEO Tom Kingsbury, who will step down on Jan. 15. “As we proceed to construct on our long-term development technique, it is very important additionally make tough however obligatory selections.” actions to assist the well being and way forward for our enterprise for our clients and our groups.”
Ashley Buchanan, former CEO of Michaels Companies, will accomplish that take over as CEO of Kohl’s on January 15. Kingsbury will stay an advisor and serve on the corporate’s board of administrators till his retirement in May 2025.
Kohl’s mentioned in November 2024 that it expects 2024 gross sales to say no 7% to eight%. The retailer experiences full-year gross sales in February.
Macy’s: Retail lists 66 ‘underproductive’ shops set to shut; over 80 closures nonetheless to return
Kohl’s plans to shut 27 shops by April 2025. That will depart the retailer with greater than 1,120 places.
Here’s an inventory of Kohl’s shops closing by April 2025, by state.
Balboa (San Diego): 5505 Balboa Avenue.
Encinitas: 134 N El Camino Real
Fremont: 43782 Christy St.
Mountain View: 350 showers Dr.
Napa: 1116 1st St.
Pleasanton: 4525 Rosewood Dr.
West Point (Sacramento): 1896 Arden Way
San Rafael: 5010 Northgate Dr.
San Luis Obispo: 205 Madonna Rd.
Westchester: 8739 S Sepulveda Blvd.
