Kohl’s plans to close 27 underperforming stores across various states by April as part of an effort to increase profits. This move comes amid a broader trend in the retail sector, where companies like Macy’s are closing more locations—150 stores in Macy’s case—due to declining sales and the need for rebranding as luxury retailers. Kohl’s has informed affected employees and is offering severance while encouraging them to seek other roles within the company. The closures are among the last decisions of outgoing CEO Tom Kingsbury, who will be succeeded by Ashley Buchanan. The retail environment remains challenging, with Kohl’s stock down nearly 40% in six months.
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