Kohl's Closing 27 'Underperforming' Stores in April, San Bernardino E-Commerce Fulfillment Site in May

MT Newswires Live

01-14

Kohl's (KSS) said in a regulatory filing Friday it will shut down 27 "underperforming" stores by April and its San Bernardino e-commerce fulfillment center in May when its lease expires.

The decisions are part of Kohl's plans to enhance efficiency and support its business, the company added in its 8-K filing with the US Securities and Exchange Commission.

Kohl's said it anticipates roughly $60 million to $80 million as cumulative pre-tax charges due to these measures.

The stores identified for closure represent about 2.3% of the company's over 1,150 locations, according to the filing.

Shares of the company were down about 4% in recent Monday trading.

Price: 13.15, Change: -0.53, Percent Change: -3.87

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