In 2016, Kohl’s will close 18 underperforming stores, representing less than one percent Macy's saw similarly low spending during the 2015 holiday season and announced last month it would close 40 stores and cut 4,800 jobs. Kohl's did not say how many jobs would be affected by their changes.
Kohl's will not name which 18 locations are closing until next month
As part of the Company’s ongoing efforts to find new and innovative ways to drive sales, in 2016, Kohl’s plans to
• Pilot a new smaller format Kohl’s store, opening 7 of these stores in various regions around the country
• Add 2 additional Off-Aisle pilot stores in Wisconsin
• Open 12 Fila outlet stores, which will mark Kohl’s first entry into the outlet space
“We see exciting growth potential in the new stores and new formats that we are opening this year and are heavily investing in the health of our overall stores portfolio to continue to serve our current and future
customers,” Mansell said.
“A vital component of our omnichannel approach is to clearly understand the evolving retail environment and ensure that we are well-positioned to leverage our resources on productive projects.”
“While the decision to close stores is a difficult one, we evaluated all of the elements that contribute to making a store successful, and we were thoughtful and strategic in our approach. We are committed to leveraging our resources on our more productive assets,” Mansell said.
“Importantly, we also wanted to provide the best options for our associates and are proud that every affected store associate will be offer affected store associate will be offered a position at a nearby Kohl’s location, or if they prefer, acompetitive severance package.”