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Kohl's Closing 18 Stores

Kohl's Closing 18 Stores

Wisconsin based retailer, Kohl's Corporation (NYSE:KSS ), released their results for the quarter ending January 30, 2016 yesterday. In that earnings release Kohl’s announced that they will close 18 underperforming stores In 2016. The specific locations will be announced by the end of March. Kohl's Corporation maintains two store locations in Wyoming (Casper and Cheyenne). Kevin Mansell, Kohl’s chairman, president and chief executive officer reported “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." In addition to this announcement, Kohl's Corp. also stated that they will be opening 7 new pilot stores around the nation that have a smaller format and enter into the outlet space with 12 Fila outlet stores. Kohl's operates 1,164 stores in 49 states with sales of over $19 Billion. #bootstrapped #news