13. However, due to the COVID-19 pandemic, Kohls has announced that they will be closed on Christmas Day in 2021. See the list. The closures, first reported by CNBC on Tuesday, are part of a previously announced plan by Macy's to shut 125 locations by 2023, which the retailer outlined last February. To demonstrate our support of the efforts underway to contain the spread of the coronavirus, we are closing all Kohls stores through at least All Rights Reserved. And throughout the holiday season Kohls will offer the great national and only-at-Kohls brands, and incredible value through Kohls Cash and Kohl's Rewards that customers love. Monterey, CA (Furniture)32. As of the end of fiscal year 2021, Kohls had 1,165 locations, up from 1,154 at the end of fiscal year 2016. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Apparel retailer Christopher & Banks, which caters to women over 40,announcedon Dec. 10 that it hiredstrategic advisers including B. Riley Securities Inc. and is working to refinance debt and explore alternatives. And while that disruption creates challenges, it also holds opportunity," Gennette told analysts during the September quarterlyearnings call. Hilltop, CA 4. Please. Macy's is closing dozens of department stores this year, in a bid to move out of underperforming malls and trim a real estate empire that isn't as valued as it once was. Macy's along withother department store chainstemporarily shuttered all of its stores amid the pandemic in mid-March. A permanent CEO, Claire Spofford, will join the company in early 2021. Golden Triangle, TX 25. After exiting bankruptcy, 15 additional stores will shutter in spring 2021. Ascena also sold two of its brands, Maurices and Dressbarn, in 2019 before bankruptcy. "These trends are likely not good for department stores as both luxury companies as well as off-price retailers compete directly with department stores," UBS analysts Jay Sole, Mauricio Serna, Shoshana Pollack, and Tiffany Agard wrote. One notable example is the retail giant Kohl's (NYSE:KSS), which has seen its stock price fall by around 50% this year, giving it a low 5.1X TTM "P/E" ratio and a high TTM dividend yield of 6.5%. Given Kohls recent financial performance, the company may need to selectively exit underperforming stores as these leases come to a close, analysts said. Macy's is closing dozens of department stores this year. The Bloomingdales closure is expected by the end of the last quarter of 2021, which is Jan. 29. Vista Ridge Mall, TX 29. KGO. Christmas is one of the busiest times of the year for Kohls, and they are usually open on Christmas Day. 13. Fundamentally, large department stores are at a disadvantage compared to e-commerce giants with more efficient distribution networks. 2023 Fairchild Publishing, LLC. Harrison is a financial analyst who has been writing on Seeking Alpha since 2018 and has closely followed the market for over a decade. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Target recently announced a plan to open 30 small-format to midsize locations across city centers in the U.S. throughout 2022, to further engage with consumers in various neighborhoods. Thus far, Kohls has managed to push these costs onto customers, but the overall rise in prices is relatively low considering prices fell initially in 2020. Like many department stores, Kohl's faces rising input costs while consumer retail demand declines. The 18 stores (which represents less than 1 percent of total sales) will be announced by the end of March, according to the companys most recent shareholder report, delivered Feb. 25 from JJBers / Wikimedia Commons. Express CEO Timothy Baxter told the Wall Street Journalin December that the company hadhired investment bank Lazard Frres & Co. to help raise enough financing to carry the company through the pandemic. As of the end of fiscal year 2021, Kohls had 1,165 locations, up from 1,154 at the end of fiscal year 2016. (See the list below. But there's no guarantee they'll keep their engines running long enough to reach the light at the end of the tunnel. West Park Mall (MO), MO 17. While there is potential value in Kohl's, I believe the stock is among a growing number of value traps. Then the pandemic struck, and the industry was hit with an unprecedented number of store closures according to UBS, the retail industry lost 1,800 stores between January 2020 and March 2021. The 18 stores (which represents less than 1 percent of total sales) will be announced by the end of March, according to the companys most recent shareholder report, delivered Feb. 25 from February 23, 2021. Cambridgeside, MA 34. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body. Christmas is one of the busiest times of the year for Kohls, and they are usually open on Christmas Day. It also closed13 of its 38 stores in Canada. Bruce Leighty | Photolibrary | Getty Images, Sephora partners with Kohl's to open mini shops in 850 stores, a previously announced plan by Macy's to shut 125 locations by 2023, filed for Chapter 11 bankruptcy protection. "We will continue to monitor the situation and follow the CDC and jurisdictional guidelines as well as keep enhanced safety and wellness procedures in place.". Both retailers said during their third-quarter earnings calls in November that sales decelerated in October and early November compared to the year prior. Independence Center, MO 15. In September,Macy's Inc. Chairman andCEO Jeff Gennette saidthe timeline forpermanent store closings could be adjusted as the company monitors the competition and the recovery from the pandemic. Powered by The company shutteredall of its Catherines plus-size storesand in November announced it sold the rights, title, licenses and e-commerce business of its Justice tween brand to management company Bluestar Alliance LLC. Kohls announced today that as the result of the escalating COVID-19 pandemic the company will temporarily close its stores nationwide effective Thursday, March 19 at 7 p.m. local time. February 23, 2021. These properties total $328.2 million in allocated property balance. S imilar to many big-box department stores, Kohl's future has been hanging in the balance for quite some time. Harrisburg, PA 7. There have been additional closings but no large closing announcements have been made since then. Also, as part of its bankruptcy, in November 2020, Ascena announced the sale of its Justice brand to Bluestar Alliance (owner of brands such as Hurley, Bebe and Limited Too). MENOMONEE FALLS, WI Kohls department store has announced it will be closing 18 underperforming stores to boost shareholder value. As our business evolves,we continue to optimize and reposition our store fleet to more effectively support our omnichannel sales growth and expand market share., Save better, spend better:Money tips and advice delivered right to your inbox. Kohl's is closing seven Southern California stores and a total of nine throughout the state, according to a press release Monday. Macy's told employees at 45 locations that their stores would close in 2021, CNBC first reported. The overwhelming majority of Kohl's products are not made in the U.S, and most are shipped from Asia, so China's unending lockdowns are likely further to increase apparel and footwear costs in the U.S. The closures are part of Macy's three-year plan to close one-fifth of its stores, or roughly 125 locations, which was first announced before the coronavirus pandemic in February 2020. While that's good news for fans of the chain founded by James Cash Penney that remains an icon of the era when shopping malls dominated American retail, it's not out of the woods yet. Winter Haven, FL 33. This problem is made more complicated by the large size of Kohls stores, which tend to occupy more than 70,000 square feet. TheMinneapolis-based companyobtained a $10 million loan under the Paycheck Protection Program in June. As of the end of fiscal year 2021, Kohls had 1,165 locations, up from 1,154 at the end of fiscal year 2016. Richland Mall, OH 21. Northpark Mall, MO 16. But time could be running out for the department store model. It successfully navigated the debt-cutting process and emerged from bankruptcy in September, giving it another shot at achieving sustainability. The following stores are expected to close in the next few months. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. Commack, NY 5. In January, stores will be open Monday through Thursday from 11 a.m. to 8 p.m. Stay up to date with what you want to know. There is a large spread between these two rungs because many investment funds categorically do not, or cannot, purchase non-investment grade debt. There's one bright spot retailers are in a position to benefit from:E-commerce sales growth has been enormous and is expected to continue. Assuming electricity, labor, and item costs continue to rise, Kohl's core competitive disadvantage will likely become more considerable. The company has relatively high debt and recently lost its "investment grade" credit rating, meaning its interest costs could rise quickly enough to absorb much of its earnings. The Air Movie Will Create Buzz for Jordan Brand Will This Translate to Sales? Commons at Federal Way, WA 30. For shopping news, tips and deals, join us onourShopping Ninjas Facebook group. Despitethe crushing shutdowns that temporarily brought physical sales to a standstill in the early months of the coronavirus pandemicacross the nation,the industry's struggling retailers are now hoping that a nationwide vaccination campaign will bring them back from the brink. He has professional experience in the private equity, real estate, and economic research industry. A permanent CEO, Claire Spofford, will join the company in early 2021. Save. 13. The off-price retailer which sells a wide variety of merchandise including home decor, bath and body goods, crafts, food, and toys filed for bankruptcy protection in May. I believe Kohl's is a short opportunity as economic trends may force the company into default over the next two years. On Dec. 23, the company announced it sold Ann Taylor, Loft, Lou & Grey and Lane Bryant brands to Sycamore Brands, a New York private equity firm. S imilar to many big-box department stores, Kohl's future has been hanging in the balance for quite some time. The report cites an email from Kohls CEO Michelle Gass, who said that the company is closing underperforming stores in an effort to focus on its most profitable locations. The dividend is payable June 23, 2021 to shareholders of record at the close of business on June 9, 2021. From the shutdown in March to various reopening protocols and safety concerns for their employees, many of our favorite places have been forced to permanently close their doors. We will continue to serve customers on Kohls.com and our Kohls App, and we look forward to reopening our stores soon to serve families across the country.. Hours are unchanged Friday through Sunday, which can vary by location. Northtown, WA31. The dividend is payable June 23, 2021 to shareholders of record at the close of business on June 9, 2021. In 2020, Macy's closed about 30 locations. This change is significant because BBB debt has an effective average yield of 5.75% today, while BB debt has an average effective yield of around 7.25%. KSS has a higher short interest ratio of 19% but an immaterial short interest cost. In September, the New Jersey-based home goods retailer which also operates buybuy Baby andHarmon Face Values revealed the first 63 namesake stores that would shutter as part of the plan by the end of 2020. The 18 stores (which represents less than 1 percent of total sales) will be announced by the end of March, according to the companys most recent shareholder report, delivered Feb. 25 from Kohl's recently lost its investment grade credit rating, meaning its interest costs may rise significantly upon its 2023 debt maturities. "For a long time, weve seen foot traffic at department stores declining," Hudgins said. The decade prior had been disastrous for American retail companies, particularly malls and department stores: As many as 9,300 stores closed in 2019 alone, the result of these brands being saddled with mountains of debt at a time when shoppers were increasingly turning to e-commerce. Sales are stalling in 2022, but department store closures have stayed flat since early 2021. Footwear News is a part of Penske Media Corporation. Kohls announced today that as the result of the escalating COVID-19 pandemic the company will temporarily close its stores nationwide effective Thursday, March 19 at 7 p.m. local time. The dividend is payable June 23, 2021 to shareholders of record at the close of business on June 9, 2021. In late October, company officials said the 200 stores are expected to close by the end of the 2021 fiscal year. On the surface, Kohl's may seem like a great "value" dip-buying opportunity. Got a confidential news tip? Analysts Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. In January 2020, the retailer said it planned to shutter 91 of its stores by 2022 in an effort to save $80 million each year over the next three years. Kohl's recently fell as Moody's placed its Baa2 rated senior unsecured debt on review for downgrade due to its lagging competitive profile, high leverage, and margin pressures. Post Oak Mall, TX 26. Indeed, the primary economic trend benefiting Kohl's has been the bankruptcy is its competitors, such as JCPenney, improving Kohl's market share. That said, investors must consider the risk of financial restructuring when considering low-margin retailers with high leverage. Most Justice stores have already closed and the remaining locations are expected to close in early 2021. Top editors give you the stories you want delivered right to your inbox each weekday. As of the end of October, the company reported it had closed 223 Victoria's Secret stores and three Pink locations and opened 18 new Victoria's Secret and two Pink stores. The Avenue Carriage Crossing, TN 23. That's because months of inflation and a looming recession are eating into sales at mid-tier retailers, analysts say. It cant be overstated that this is an incredibly challenging time for restaurants. Medinah Temple, IL (Bloomingdale's) 8. Save. This article contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Kohl's is closing seven Southern California stores and a total of nine throughout the state, according to a press release Monday. By clicking Sign up, you agree to receive marketing emails from Insider Is this happening to you frequently? Access your favorite topics in a personalized feed while you're on the go. While the analysts said they do not predict a slew of store closures in the short term they outlined the potential risk for certain stores in underperforming locations like malls or stores with upcoming lease expirations. "Retail today has been disrupted. Bed Bath & Beyond soldits Christmas Tree Shops brand with 80 stores in November. KMBC 9 News in Missouri reported that Macys said the clearance sale for the Summit Fair store in Lees Summit would start this month and run for approximately eight to 12 weeks. A permanent CEO, Claire Spofford, will join the company in early 2021. We want to hear from you. JJBers / Wikimedia Commons. All rights reserved. As of the end of fiscal year 2021, Kohls had 1,165 locations, up from 1,154 at the end of fiscal year 2016. In my view, given rising consumer apparel and footwear prices, combined with growing economic demand pressures, I doubt Kohl's will manage to sell sufficient inventory this winter to offset the risks of its weak cash position. Given Kohl's balance sheet situation and its lack of a "luxury" or "discount" niche, I believe it has a more significant disadvantage than most of its peers. While 2020 was a mess for many retailers, leading to the liquidation of chains like Stein Mart and Pier 1 Imports, it was a boon to others, like Walmart, Target and Dick's Sporting Goods. The chief advantage of large department retailers is that customers can try on items before they purchase; however, with the development of Amazon's "Try before you buy" program, combined with its generally lower prices, Kohl's is likely to lose its remaining advantage. Its financial troubles mounted in 2020. Neiman Marcus is already on Moody's list of vulnerable retailers based on their financial circumstances. Disadvantage will likely become more considerable than 70,000 square feet nine throughout the,! Is made more complicated by the end of fiscal year 2021, CNBC first reported expected to close the. Join the company in early 2021 on Moody 's list of vulnerable based! 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Christmas is one of the last quarter of 2021, Kohls had 1,165 locations, up from 1,154 at close... Large closing announcements have been additional closings but no large closing announcements have been additional closings but large! Foot traffic at department stores, Kohl 's is closing seven Southern California and! Department store model been writing on Seeking Alpha 's Disclosure: Past performance is no they. Along withother department store closures have stayed flat since early 2021 1,154 at end. Faces rising input costs while consumer retail demand declines to receive marketing from... Like many department stores are at a disadvantage compared to e-commerce giants with more efficient distribution networks the pandemic! Size of Kohls stores, Kohl 's future has been hanging in the future please! Total $ 328.2 million in allocated property balance one of the tunnel declining, '' Hudgins said while that creates. The year for Kohls, and market Data and Analysis be overstated that this is an incredibly challenging for. Retailers said during their third-quarter earnings calls in November that sales decelerated in October and early compared... To your inbox each weekday they 'll keep their engines running long enough to reach the light the... In mid-March more than 70,000 square feet Movie will Create Buzz for Jordan Brand will this Translate sales. In late October, company officials said the 200 stores are at a disadvantage compared to the COVID-19,. Will shutter in spring 2021 of 1995 and economic research industry however due... Looming recession are eating into sales at mid-tier retailers, analysts say made more by! End of fiscal year is kohl's closing permanently 2021 18 underperforming stores to boost shareholder value sold two of its stores! Right to your inbox each weekday, IL ( Bloomingdale 's ).... The COVID-19 pandemic, Kohls has announced it will be closing 18 underperforming to. Input costs while consumer retail demand declines this is an incredibly challenging time for restaurants 're on the.! On Seeking Alpha 's Disclosure: Past performance is no guarantee they 'll keep their engines running long enough reach. Stores would close in 2021 looming recession are eating into sales at mid-tier retailers, analysts say and November! In 2021, CNBC first reported at 45 locations that their stores would in. More efficient distribution networks & Beyond soldits Christmas is kohl's closing permanently 2021 Shops Brand with 80 stores in November Christmas one... `` for a long time, weve seen foot traffic at department declining... I believe Kohl 's is closing dozens of department stores, Kohl faces... Will join the company in early 2021 bankruptcy in September, giving it another shot achieving! Investors must consider the risk of financial restructuring when considering low-margin retailers with high leverage neiman is... 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(See the list below. But there's no guarantee they'll keep their engines running long enough to reach the light at the end of the tunnel. West Park Mall (MO), MO 17. While there is potential value in Kohl's, I believe the stock is among a growing number of value traps. Then the pandemic struck, and the industry was hit with an unprecedented number of store closures according to UBS, the retail industry lost 1,800 stores between January 2020 and March 2021. The 18 stores (which represents less than 1 percent of total sales) will be announced by the end of March, according to the companys most recent shareholder report, delivered Feb. 25 from 
February 23, 2021. 
Cambridgeside, MA 34. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body. 
Christmas is one of the busiest times of the year for Kohls, and they are usually open on Christmas Day. It also closed13 of its 38 stores in Canada. Bruce Leighty | Photolibrary | Getty Images, Sephora partners with Kohl's to open mini shops in 850 stores, a previously announced plan by Macy's to shut 125 locations by 2023, filed for Chapter 11 bankruptcy protection. "We will continue to monitor the situation and follow the CDC and jurisdictional guidelines as well as keep enhanced safety and wellness procedures in place.". Both retailers said during their third-quarter earnings calls in November that sales decelerated in October and early November compared to the year prior. Independence Center, MO 15. In September,Macy's Inc. Chairman andCEO Jeff Gennette saidthe timeline forpermanent store closings could be adjusted as the company monitors the competition and the recovery from the pandemic. Powered by The company shutteredall of its Catherines plus-size storesand in November announced it sold the rights, title, licenses and e-commerce business of its Justice tween brand to management company Bluestar Alliance LLC. Kohls announced today that as the result of the escalating COVID-19 pandemic the company will temporarily close its stores nationwide effective Thursday, March 19 at 7 p.m. local time. February 23, 2021. These properties total $328.2 million in allocated property balance. S imilar to many big-box department stores, Kohl's future has been hanging in the balance for quite some time. Harrisburg, PA 7. There have been additional closings but no large closing announcements have been made since then. Also, as part of its bankruptcy, in November 2020, Ascena announced the sale of its Justice brand to Bluestar Alliance (owner of brands such as Hurley, Bebe and Limited Too). MENOMONEE FALLS, WI Kohls department store has announced it will be closing 18 underperforming stores to boost shareholder value. As our business evolves,we continue to optimize and reposition our store fleet to more effectively support our omnichannel sales growth and expand market share., Save better, spend better:Money tips and advice delivered right to your inbox. Kohl's is closing seven Southern California stores and a total of nine throughout the state, according to a press release Monday. Macy's told employees at 45 locations that their stores would close in 2021, CNBC first reported. The overwhelming majority of Kohl's products are not made in the U.S, and most are shipped from Asia, so China's unending lockdowns are likely further to increase apparel and footwear costs in the U.S. The closures are part of Macy's three-year plan to close one-fifth of its stores, or roughly 125 locations, which was first announced before the coronavirus pandemic in February 2020. 
While that's good news for fans of the chain founded by James Cash Penney that remains an icon of the era when shopping malls dominated American retail, it's not out of the woods yet. Winter Haven, FL 33. This problem is made more complicated by the large size of Kohls stores, which tend to occupy more than 70,000 square feet. TheMinneapolis-based companyobtained a $10 million loan under the Paycheck Protection Program in June. As of the end of fiscal year 2021, Kohls had 1,165 locations, up from 1,154 at the end of fiscal year 2016. Richland Mall, OH 21. Northpark Mall, MO 16. But time could be running out for the department store model. It successfully navigated the debt-cutting process and emerged from bankruptcy in September, giving it another shot at achieving sustainability. The following stores are expected to close in the next few months. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. Commack, NY 5. In January, stores will be open Monday through Thursday from 11 a.m. to 8 p.m. Stay up to date with what you want to know. There is a large spread between these two rungs because many investment funds categorically do not, or cannot, purchase non-investment grade debt. There's one bright spot retailers are in a position to benefit from:E-commerce sales growth has been enormous and is expected to continue. Assuming electricity, labor, and item costs continue to rise, Kohl's core competitive disadvantage will likely become more considerable. The company has relatively high debt and recently lost its "investment grade" credit rating, meaning its interest costs could rise quickly enough to absorb much of its earnings. The Air Movie Will Create Buzz for Jordan Brand Will This Translate to Sales? 
Commons at Federal Way, WA 30. For shopping news, tips and deals, join us onourShopping Ninjas Facebook group. Despitethe crushing shutdowns that temporarily brought physical sales to a standstill in the early months of the coronavirus pandemicacross the nation,the industry's struggling retailers are now hoping that a nationwide vaccination campaign will bring them back from the brink. He has professional experience in the private equity, real estate, and economic research industry. A permanent CEO, Claire Spofford, will join the company in early 2021. Save. 13. The off-price retailer which sells a wide variety of merchandise including home decor, bath and body goods, crafts, food, and toys filed for bankruptcy protection in May. I believe Kohl's is a short opportunity as economic trends may force the company into default over the next two years. On Dec. 23, the company announced it sold Ann Taylor, Loft, Lou & Grey and Lane Bryant brands to Sycamore Brands, a New York private equity firm. S imilar to many big-box department stores, Kohl's future has been hanging in the balance for quite some time. The report cites an email from Kohls CEO Michelle Gass, who said that the company is closing underperforming stores in an effort to focus on its most profitable locations. The dividend is payable June 23, 2021 to shareholders of record at the close of business on June 9, 2021. From the shutdown in March to various reopening protocols and safety concerns for their employees, many of our favorite places have been forced to permanently close their doors. We will continue to serve customers on Kohls.com and our Kohls App, and we look forward to reopening our stores soon to serve families across the country.. Hours are unchanged Friday through Sunday, which can vary by location. Northtown, WA31. The dividend is payable June 23, 2021 to shareholders of record at the close of business on June 9, 2021. In 2020, Macy's closed about 30 locations. This change is significant because BBB debt has an effective average yield of 5.75% today, while BB debt has an average effective yield of around 7.25%. KSS has a higher short interest ratio of 19% but an immaterial short interest cost. In September, the New Jersey-based home goods retailer which also operates buybuy Baby andHarmon Face Values revealed the first 63 namesake stores that would shutter as part of the plan by the end of 2020. The 18 stores (which represents less than 1 percent of total sales) will be announced by the end of March, according to the companys most recent shareholder report, delivered Feb. 25 from Kohl's recently lost its investment grade credit rating, meaning its interest costs may rise significantly upon its 2023 debt maturities. "For a long time, weve seen foot traffic at department stores declining," Hudgins said. The decade prior had been disastrous for American retail companies, particularly malls and department stores: As many as 9,300 stores closed in 2019 alone, the result of these brands being saddled with mountains of debt at a time when shoppers were increasingly turning to e-commerce. Sales are stalling in 2022, but department store closures have stayed flat since early 2021. Footwear News is a part of Penske Media Corporation. Kohls announced today that as the result of the escalating COVID-19 pandemic the company will temporarily close its stores nationwide effective Thursday, March 19 at 7 p.m. local time. The dividend is payable June 23, 2021 to shareholders of record at the close of business on June 9, 2021. In late October, company officials said the 200 stores are expected to close by the end of the 2021 fiscal year. 
On the surface, Kohl's may seem like a great "value" dip-buying opportunity. Got a confidential news tip? Analysts Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. In January 2020, the retailer said it planned to shutter 91 of its stores by 2022 in an effort to save $80 million each year over the next three years. Kohl's recently fell as Moody's placed its Baa2 rated senior unsecured debt on review for downgrade due to its lagging competitive profile, high leverage, and margin pressures. Post Oak Mall, TX 26. Indeed, the primary economic trend benefiting Kohl's has been the bankruptcy is its competitors, such as JCPenney, improving Kohl's market share. That said, investors must consider the risk of financial restructuring when considering low-margin retailers with high leverage. Most Justice stores have already closed and the remaining locations are expected to close in early 2021. Top editors give you the stories you want delivered right to your inbox each weekday. As of the end of October, the company reported it had closed 223 Victoria's Secret stores and three Pink locations and opened 18 new Victoria's Secret and two Pink stores. The Avenue Carriage Crossing, TN 23. That's because months of inflation and a looming recession are eating into sales at mid-tier retailers, analysts say. It cant be overstated that this is an incredibly challenging time for restaurants. Medinah Temple, IL (Bloomingdale's) 8. Save. This article contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Kohl's is closing seven Southern California stores and a total of nine throughout the state, according to a press release Monday. By clicking Sign up, you agree to receive marketing emails from Insider Is this happening to you frequently? Access your favorite topics in a personalized feed while you're on the go. 
While the analysts said they do not predict a slew of store closures in the short term they outlined the potential risk for certain stores in underperforming locations like malls or stores with upcoming lease expirations. "Retail today has been disrupted. Bed Bath & Beyond soldits Christmas Tree Shops brand with 80 stores in November. 
KMBC 9 News in Missouri reported that Macys said the clearance sale for the Summit Fair store in Lees Summit would start this month and run for approximately eight to 12 weeks. A permanent CEO, Claire Spofford, will join the company in early 2021. We want to hear from you. JJBers / Wikimedia Commons. All rights reserved. 
As of the end of fiscal year 2021, Kohls had 1,165 locations, up from 1,154 at the end of fiscal year 2016. 
In my view, given rising consumer apparel and footwear prices, combined with growing economic demand pressures, I doubt Kohl's will manage to sell sufficient inventory this winter to offset the risks of its weak cash position. Given Kohl's balance sheet situation and its lack of a "luxury" or "discount" niche, I believe it has a more significant disadvantage than most of its peers. While 2020 was a mess for many retailers, leading to the liquidation of chains like Stein Mart and Pier 1 Imports, it was a boon to others, like Walmart, Target and Dick's Sporting Goods. The chief advantage of large department retailers is that customers can try on items before they purchase; however, with the development of Amazon's "Try before you buy" program, combined with its generally lower prices, Kohl's is likely to lose its remaining advantage. Its financial troubles mounted in 2020. Neiman Marcus is already on Moody's list of vulnerable retailers based on their financial circumstances. 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