Kohl’s CEO rules out further store closures, says most locations remain profitable

Kohl’s Corp. CEO Michael Bender said the department store chain has no plans to shutter additional locations this year, offering a measure of reassurance to shoppers and employees after the retailer closed 27 stores in 2025.

Speaking during Kohl’s fourth-quarter earnings call on March 10, Mr. Bender said the company operates around 1,150 locations and that more than 90% of them remain profitable. He pushed back on expectations of further large-scale cuts.

“I would not anticipate any sort of grand plan of saying we’re taking stores out or adding stores at this point,” Mr. Bender said. “The focus for us is actually on optimizing what we already have and we’ll be focused on making sure that we continue to push the stores’ productivity going forward.”

He added that Kohl’s would examine the “hygiene” of individual stores to ensure they are properly positioned, and that the company typically reviews its overall store footprint on an annual basis.

The comments come after a difficult stretch for the Wisconsin-based retailer. In January 2025, then-CEO Tom Kingsbury announced the closure of 27 underperforming locations across 15 states, along with the shuttering of the company’s San Bernardino e-commerce fulfillment center in California. Mr. Kingsbury characterized the closures as a “necessary” step to support the long-term health of the business.

Mr. Bender took over as CEO in November, becoming the chain’s third chief executive in less than three years.

The financial results released alongside the earnings call painted a mixed picture. For the fourth quarter, net sales fell 3.9% and comparable sales dropped 2.8%. For the full fiscal year 2025, net sales declined 4.0% and comparable sales fell 3.1%. One bright spot: diluted earnings per share came in at $1.07 for the quarter, well above the 86 cents analysts polled by FactSet had forecast.

Despite the earnings beat, Kohl’s stock has struggled. Shares have lost more than 37% of their value year-to-date, closing at $12.69 as of Monday. Over the past five years, the stock has shed nearly 80% of its value.

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Like other big-box retailers, Kohl’s has faced mounting pressure from declining sales, shifting consumer habits, and intensifying competition from online platforms including Amazon, Temu and Shein.

Mr. Bender framed 2025 as a year of stabilization, and pledged a continued focus on fundamentals heading into 2026. “In 2026, we are committed to further strengthening our foundation by addressing operational opportunities, building on our strengths, and modernizing our processes,” he said in the earnings statement. “We are confident that the work we are investing in now is essential for Kohl’s long-term benefit.”

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