Kohl's is closing 27 stores in 15 states. Here's where they're located
Published On Jan 13, 2025, 12:51 PM
Kohl's plans to close 27 underperforming stores across 15 states by April 2025. This decision is part of a broader strategy to enhance the company's overall health and future, as they continue to reassess their store base amidst declining sales. In addition to store closures, they will also shut down a fulfillment center in San Bernardino, California, aiming to increase operational efficiency. Kohl's reported a 6% decrease in net sales in the first three quarters of 2024 compared to the previous year.
Stock Forecasts
KSS
Negative
Kohl's is currently facing significant challenges in its business model, highlighted by store closures and loss in sales. The decision to shut down underperforming locations may cut costs and improve operational efficiency in the long run, but immediate market sentiment could be negative given the closure news and previous earnings misses. Investors may remain cautious about growth prospects until a clear turnaround strategy is observed.
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