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April 13, 2024: Kohl’s chain department store. Kohl’s has partnered with cosmetics giant Sephora to generate business. (Shutterstock)
CASPER, Wyo. — Clothing department store chain Kohl’s recently announced that dozens of stores across the country will be closing in the coming months. However, Wyoming’s locations will remain unaffected.
The retailer announced that 27 “underperforming” sites will be closed to improve company profits, with closures expected to be completed by the start of April. Stores will be shuttering in Alabama, Arkansas, California, Colorado, Georgia, Idaho, Illinois, Massachusetts, New Jersey, Ohio, Oregon, Pennsylvania, Texas and Utah.
The company has seen financial woes recently, experiencing a nearly 40% drop in its stock value over the past six months.
Wyoming is currently home to a pair of Kohl’s stores — in Casper and Cheyenne — and both will remain open. The department store did not indicate in a press release whether more closures can be expected.
In the statement, Kohl’s announced it would be providing severance packages to laid-off employees and encouraged the employees to seek other roles within the larger company.
The closures come alongside some other shake-ups in the clothing store chain. Ashley Buchanan, the former CEO of Michaels, will be taking over as the new CEO of Kohl’s, while outgoing CEO Tom Kingsbury will remain on the board and aid Buchanan as an advisor.
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