Kohl's Corporation
USA Today reports that 29th March marks the final day of operation for these stores. The company is also shutting down its e-commerce fulfillment center in San Bernardino, California, in May.
The closures are part of a restructuring that includes C-suite changes, a 10% reduction in the corporate workforce, and the end of Amazon returns in some locations.
Coresight Research predicts that around 15,000 stores will close this year, more than twice the 7,325 closures recorded in 2024.
According to Benzinga Pro, KSS stock has lost over 69% in the past year. Investors can gain exposure to the stock via WBI Power Factor High Dividend ETF
In its most recent earnings report, Kohl's posted a 9.4% year-over-year sales decline to $5.175 billion, surpassing analysts' expectations. The comparable sales dropped 6.7%, and operating income fell sharply to $126 million from $299 million last year.
Looking ahead, Kohl's expects a sales decline of 5% to 7% in fiscal year 2025, with an expected earnings per share range of $0.10 to $0.60. The company anticipates comparable sales will decrease by 4% to 6%.
Kohl's is closing stores in various locations, including Spanish Fort, Alabama; Little Rock West, Arkansas; multiple California locations such as San Diego and Napa; Arapahoe Crossing in Colorado; Duluth, Georgia; Boise, Idaho; Plainfield and West Dundee in Illinois; Stoughton, Massachusetts; East Windsor, New Jersey; Blue Ash and Forest Park in Ohio; Portland Gateway, Oregon; Pottstown, Pennsylvania; North Dallas, Texas; Riverton, Utah; and Herndon and Williamsburg in Virginia, according to a report by Axios.
Brands like Forever 21, JCPenney, Joann, Dollar General
Price Action: KSS shares are trading lower by 1.62% to $8.81 at last check Thursday.
