Kohl’s, one of the largest retail chains in the U.S., has announced plans to close more than 20 underperforming stores across the country by April 2025. This includes a location in North Texas, marking significant changes for the company as it adjusts its business strategy.
Let’s explore the details behind this decision, what it means for affected employees, and the broader implications for shoppers.
Which Kohl’s Stores Are Closing?
Kohl’s will be shutting down 27 stores nationwide, including one located at 18224 Preston Road in Dallas, Texas. This is the only store in Texas on the closure list. California will see the highest number of closures, with 10 stores slated to shut their doors.
The decision to close these stores comes as part of the company’s effort to maintain long-term growth and sustainability. Kohl’s CEO, Tom Kingsbury, shared that these actions, although tough, are necessary to secure the company’s future.
What Happens to Employees?
Kohl’s has assured that employees impacted by these closures have been informed in advance. The company is offering severance packages or opportunities to apply for other positions within the company.
By providing support during this transition, Kohl’s aims to ease the process for its staff.
Leadership Changes at Kohl’s
This announcement comes at a pivotal time for the company, as Tom Kingsbury prepares to step down as CEO on January 15, 2025. He will also leave the board of directors in May. Ashley Buchanan, a seasoned retail leader with experience at Walmart and Sam’s Club, is set to take over the role of CEO.
Impact on Shoppers
With over 1,150 Kohl’s locations still in operation, most shoppers will not notice immediate changes. However, those who frequent the affected stores, especially in Dallas, will need to find alternative locations or shop online.
The closures align with similar announcements from competitors like Macy’s, which is also closing several stores nationwide, including five in North Texas.
Why Is Kohl’s Closing Stores?
The decision to close these stores reflects Kohl’s ongoing efforts to adapt to changes in the retail industry. By focusing on strengthening its most successful locations, the company hopes to ensure its long-term success and maintain quality service for customers.
FAQs
1. How many Kohl’s stores are closing?
Kohl’s is closing 27 underperforming stores nationwide by April 2025.
2. Which Texas store is closing?
The Dallas location at 18224 Preston Road is the only Texas store on the closure list.
3. What support is being offered to affected employees?
Kohl’s is offering severance packages and opportunities to apply for other positions within the company.
4. Who will be the new CEO of Kohl’s?
Ashley Buchanan will become the new CEO, replacing Tom Kingsbury in January 2025.
5. How does this affect shoppers?
Shoppers in affected areas may need to find alternative stores or shop online, but the majority of Kohl’s locations remain operational.
