Kohl’s is one of the largest department store chains in the United States. Founded in 1962, Kohl’s operates over 1,100 stores in 49 states. Kohl’s is known for its wide array of merchandise, including clothing, shoes, home goods, and more. Recently, however, Kohl’s has been struggling.
In 2020, Kohl’s sales fell by 23 percent. As a result of the pandemic and changing consumer habits, Kohl’s has been forced to close several stores. In 2021, Kohl’s plans to close an additional 100 stores.
The decision to close more stores comes as no surprise given the challenges that Kohl’s has been facing. The pandemic has caused a dramatic decrease in foot traffic to malls and other shopping centers. At the same time, more and more consumers are doing their shopping online.
These trends have hit Kohl’s hard. In response, the company has been investing heavily in its e-commerce business. However, it has not been enough to offset the decline in sales.
Kohl’s is not alone in its struggles. Many other retailers, including Macy’s and JCPenney, have also been forced to close stores in recent years.
The pandemic has only accelerated this trend. It is clear that the retail landscape is changing and that brick-and-mortar stores are no longer as viable as they once were.
Given these challenges, it is not surprising that Kohl’s is closing more stores in 2021. The company is facing an uncertain future, but it is taking steps to adapt to the new reality of retail.
It is clear that the retail landscape is changing and that brick-and-mortar stores are no longer as viable as they once were. Given these challenges, it is not surprising that Kohl’s is closing more stores in 2021.
