Kohl’s to Close 27 Stores Nationwide Amid Efforts to Boost Profitability
Kohl’s has announced the closure of 27 underperforming stores across more than a dozen states, as the retailer seeks to strengthen its financial standing. The closures, expected to be completed by April, represent a small portion of the chain’s 1,150 locations.
In a statement, Kohl’s emphasized its commitment to maintaining the health of its profitable store base, describing the decision as difficult but necessary. Outgoing CEO Tom Kingsbury, who steps down this week, said, “As we continue to build on our long-term growth strategy, it is important that we also take necessary actions to support the health and future of our business for our customers and our teams.”
Kingsbury will be succeeded by Ashley Buchanan, the current CEO of Michaels, next week. Kingsbury will remain as an advisor and board member until his retirement in May.
Like many traditional department stores, Kohl’s has struggled to adapt to shifting consumer preferences and the pressures of inflation. The company has forecasted weaker-than-expected holiday sales, with its stock value dropping nearly 40% in the last six months.
This move comes amid broader industry challenges. In recent years, Kohl’s faced activist investor pressures, calls to spin off its online business, and exploration of a potential sale, which was ultimately abandoned in 2022. The announcement also follows Macy’s decision to shutter 66 locations in the coming weeks.
Kohl’s Store Closures by Location:
Alabama:
21000 Town Center Ave., Spanish Fort
Arkansas:
13909 Chenal Pkwy, Little Rock
California:
5505 Balboa Ave., San Diego
134 N. El Camino Real, Encinitas
43782 Christy St., Fremont
350 Showers Dr., Mountain View
1116 1st St., Napa
4525 Rosewood Dr., Pleasanton
1896 Arden Way, Sacramento
5010 Northgate Dr., San Rafael
205 Madonna Rd., San Luis Obispo
8739 S. Sepulveda Blvd., Westchester
Colorado:
6584 S. Parker Rd., Aurora
Georgia:
2050 W. Liddell Rd., Duluth
Idaho:
400 N. Milwaukee St., Boise
Illinois:
11860 S. Route 59, Plainfield
3000 Spring Hill Ring Rd., West Dundee
Massachusetts:
501 Technology Center Dr., Stoughton
New Jersey:
72 Princeton Hightstown Rd., East Windsor
Ohio:
4150 Hunt Rd., Blue Ash
100 Cincinnati Mills Dr., Cincinnati
Oregon:
10010 NE. Halsey St., Portland
Pennsylvania:
351 W. Schuylkill Rd., Pottstown
Texas:
18224 Preston Rd., Dallas
Utah:
13319 S. 3600 W. Suite 13LOT, Riverton
Virginia:
2100 Centreville Rd., Herndon
100 Gristmill Plaza, Williamsburg
The closures mark another step in Kohl’s ongoing efforts to adapt to changing market conditions while focusing on its most successful operations.