MENOMONEE FALLS, Wis. - Kohl's says it plans to close 18 "underperforming" stores in 2016, but hasn't released a list of locations yet.
The company will release the list of closures by the end of March.
In its corporate report for the quarter and year ended Jan. 30, 2016, Kohl's announced plans to open seven new smaller format stores in various regions. The retailer did not specify where.
It also plans to open 12 Fila outlet stores.
In its explanation for the store closures, Kohl's says it will save a total of around $55 million by taking that action, although closing costs and organizational changes will cost the company up to $170 million.
Read the release here.
(Source)
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