Kohl’s Closing 18 Stores in 2016
Some interesting news is coming out of the retail world. Menomonee Falls, Wisconsin-based retailer Kohl’s Corporation has announced that it will be closing 18 under-performing stores in 2016.
The locations are expected to be announced at the end of March, but the stores slated for closure accounted for less than one percent of the retail chain’s total sales.
The company reported sales growth of one percent for their fiscal year, which ended January 30. Despite the closures of the underperforming stores, Kohl’s Corporation has plans to expand in other areas, including piloting some smaller-format Kohl’s stores and opening 12 Fila outlet stores.
Kohl’s currently operates 26 stores in Minnesota, including one here in Rochester. A recent company earnings release showed that the retail chain had fourth quarter earnings of $296 million, on revenue of $6.4 billion.
Will this decision affect the Rochester Kohl’s store? Looks like we’ll have to wait until the end of March to find out.