Kohl's Shutters 27 Locations as Restructuring Efforts Unfold

Kohl’s is set to close 27 stores in over a dozen U.S. states by April to improve its financial performance. This decision affects a small portion of the company's approximately 1,150 locations.

Reasons for Closure

The selected stores were identified as underperforming, as part of a strategy to focus resources on stronger markets. Outgoing CEO Tom Kingsbury described this move as necessary for long-term stability.

Leadership Transition

Ashley Buchanan will soon take over as chief executive, while Kingsbury will remain as an advisor temporarily. Kohl’s aims to adapt amid the challenges faced by department stores due to changing consumer preferences and increased online shopping.

Future Focus

Kohl's plans to concentrate on profitable locations and modernize its stores for a better shopping experience. The company seeks to stay competitive and achieve sustainable growth despite a challenging retail environment.