The USPS rings in the Lunar New Year with a delightful hissing stamp
- today, 6:10 AM
- fastcompany.com
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Retail giant Kohl’s has announced significant real estate changes for 2025, including the closure of 27 underperforming stores (out of its 1,150 locations) and its San Bernardino E-commerce Fulfillment Center (EFC) in California—one of 15 EFCs and distribution centers in Kohl’s supply chain.
The moves are part of the company’s long-term growth strategy, which includes enhancing operational efficiency. Ten of the 27 locations set to shutter are located in California.
“We always take these decisions very seriously,” said Tom Kingsbury, Kohl’s CEO, in a statement. “As we continue to build on our long-term growth strategy, it is important that we also take difficult but necessary actions to support the health and future of our business for our customers and our teams.”
All affected associates have been notified and will be offered competitive severance packages or the opportunity to apply for other roles within the company, the announcement states.
List of Kohl’s locations set for closure by April
The full list of locations set to close spans 15 states:
Alabama
Arkansas
California
Colorado
Georgia
Idaho
Illinois
Massachusetts
New Jersey
Ohio
Oregon
Pennsylvania
Texas
Utah
Virginia
Continuing performance woes
Last year, Kohl’s faced a challenging period marked by slumping sales, an 8.8% year-over-year decline in Q3 net sales, and comparable sales dropping 9.3%. Net income for the quarter fell to $22 million from $59 million the previous year.
Amid these struggles, Kohl’s shares plummeted by over 50% in 2024, reaching lows not seen since the pandemic. Kingsbury is set to step down, with Ashley Buchanan taking the helm as CEO on January 15.
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