Kohl's to Close 27 Underperforming Stores

Kohl's is set to close 27 underperforming stores across 15 states, including locations in California and Georgia, by April 2025, as part of a strategy to enhance profitability after 11 consecutive quarters of sales declines. This decision comes alongside a leadership transition with Ashley Buchanan, the former CEO of Michaels, taking over from Tom Kingsbury, who will remain as an adviser until May. Affected employees have been informed and offered severance packages or opportunities to apply for other roles within the company. Meanwhile, Macy's also announced plans to close 66 stores early this year, which, while accounting for 25% of its square footage, represent less than 10% of its sales. Both retailers are struggling with declining sales amid high inflation and shifting consumer spending habits. The closures are part of broader efforts to streamline operations and support long-term growth strategies.