Latest news with #TomKingsbury
Yahoo
26-03-2025
- Business
- Yahoo
Two dozen Kohl's stores to shutter this weekend: Here's where
(NEXSTAR) — The final day of operation for more than two dozen Kohl's locations is fast approaching. The department store announced in January that it would close 27 underperforming stores by April. 'We always take these decisions very seriously,' Tom Kingsbury, then Kohl's chief executive officer, said at the time. 'As we continue to build on our long-term growth strategy, it is important that we also take difficult but necessary actions to support the health and future of our business for our customers and our teams.' After widespread closures, Advance Auto Parts to open dozens of new locations The affected stores are scattered across 15 states. Three locations — in Mountain View, California; Stoughton, Massachusetts; and Herndon, Virginia — have already closed, according to local media reports. Saturday, March 29, marks the final day of business for the other 24 Kohl's stores, according to banners on their webpages. Those stores are in: Alabama: Spanish Fort Arkansas: Little Rock West California: Balboa (San Diego), Encinitas, Fremont, Napa, Pleasanton, Point West (Sacramento), San Rafael, San Luis Obispo, and Westchester Colorado: Arapahoe Crossing (Aurora) Georgia: Duluth Idaho: Boise Illinois: Plainfield and Spring Hill (West Dundee) New Jersey: East Windsor Ohio: Blue Ash and Forest Park (Cincinnati) Oregon: Portland Gateway Pennsylvania: Pottstown Texas: North Dallas Utah: Riverton Virginia: Williamsburg Kohl's previously said it would offer a severance package or the chance to apply to another open role within the company to impacted employees. The Wisconsin-based company has experienced sagging sales as of late. Last week, Kohl's confirmed it was stopping its Amazon return services at multiple stores as part of a test that could prove financially beneficial for the company. Kohl's stopping Amazon returns at some stores as a test Kohl's, like other retailers, has had a challenging few years as consumers continue to seek out deals online. Macy's also announced in January that it would close more than 60 stores as part of a strategy to shutter counterproductive locations while upgrading others through 2026. Dollar General recently confirmed it would close nearly 100 stores. Several other retailers are closing stores this year. That includes JOANN and Forever 21, which intend to close all of their locations after filing for bankruptcy. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. Sign in to access your portfolio
The Hill
26-03-2025
- Business
- The Hill
Two dozen Kohl's stores to shutter this weekend: Here's where
(NEXSTAR) — The final day of operation for more than two dozen Kohl's locations is fast approaching. The department store announced in January that it would close 27 underperforming stores by April. 'We always take these decisions very seriously,' Tom Kingsbury, then Kohl's chief executive officer, said at the time. 'As we continue to build on our long-term growth strategy, it is important that we also take difficult but necessary actions to support the health and future of our business for our customers and our teams.' After widespread closures, Advance Auto Parts to open dozens of new locations The affected stores are scattered across 15 states. Three locations — in Mountain View, California; Stoughton, Massachusetts; and Herndon, Virginia — have already closed, according to local media reports. Saturday, March 29, marks the final day of business for the other 24 Kohl's stores, according to banners on their webpages. Those stores are in: Alabama: Spanish Fort Arkansas: Little Rock West California: Balboa (San Diego), Encinitas, Fremont, Napa, Pleasanton, Point West (Sacramento), San Rafael, San Luis Obispo, and Westchester Colorado: Arapahoe Crossing (Aurora) Georgia: Duluth Idaho: Boise Illinois: Plainfield and Spring Hill (West Dundee) New Jersey: East Windsor Ohio: Blue Ash and Forest Park (Cincinnati) Oregon: Portland Gateway Pennsylvania: Pottstown Texas: North Dallas Utah: Riverton Virginia: Williamsburg Kohl's previously said it would offer a severance package or the chance to apply to another open role within the company to impacted employees. The Wisconsin-based company has experienced sagging sales as of late. Last week, Kohl's confirmed it was stopping its Amazon return services at multiple stores as part of a test that could prove financially beneficial for the company. Kohl's, like other retailers, has had a challenging few years as consumers continue to seek out deals online. Macy's also announced in January that it would close more than 60 stores as part of a strategy to shutter counterproductive locations while upgrading others through 2026. Dollar General recently confirmed it would close nearly 100 stores. Several other retailers are closing stores this year. That includes JOANN and Forever 21, which intend to close all of their locations after filing for bankruptcy.
The Hill
18-03-2025
- Business
- The Hill
Kohl's stopping Amazon returns at some stores as a test
(NEXSTAR) — Online shopping can seem easy on the surface until you learn the item you ordered isn't quite right and you need to send it back. Unless you're lucky enough to earn a 'returnless refund,' returning an item purchased online will frequently require figuring out how to ship it and leaving the comfort of your home — the antithesis of online shopping. For those with a Kohl's store near them, returning an Amazon order has been vastly less challenging than trying to repack the item, taking it to a package carrier, and hoping that you labeled it correctly. You can't return these products to Amazon The Wisconsin-based retailer began accepting Amazon returns in October 2017, the Milwaukee Journal Sentinel reports. Two years later, it was available in all but one store — Kohl's in Anchorage, Alaska. That will soon change, with Kohl's testing out removing Amazon returns services at some stores. In a statement shared with Nexstar after story publication, Kohl's said, 'To continue to learn from our customers, we are conducting a test in a handful of our stores where we will be temporarily discontinuing the third-party returns service. Kohl's has a test and learn culture that helps us to evolve our store experience and stay informed about customers' expectations and preferences.' The company did not share how long the test would run and the specific stores impacted. Kohl's employees confirmed to Modern Retail that stores in Eau Claire, Wisconsin; Washington, Missouri; and Leominster, Massachusetts are part of the test. As of Tuesday, the store information pages for all three locations still list Amazon returns as an available service. While Kohl's did not immediately respond to Nexstar's request for additional information, some Reddit users claiming to be employees expressed support for the move. 'I hope they do this overall, Amazon is a headache and can't be worth it with the amount of work and man hours it takes to do it,' a user wrote on a post from February when impacted stores were reportedly notified of the change. 'All those Amazon hours would be better spent on just about anything,' another user added. The move could also prove financially beneficial for Kohl's, which has experienced sagging sales as of late. Earlier this year, Kohl's announced it would close nearly 30 underperforming stores by April. 'As we continue to build on our long-term growth strategy, it is important that we also take difficult but necessary actions to support the health and future of our business for our customers and our teams,' Tom Kingsbury, then the CEO of Kohl's, said at the time. Ashley Buchanan, former Michaels CEO and a retail veteran, has since taken over for Kingsbury, who is retiring in May. Kohl's, like other retailers, has had a challenging few years as consumers continue to seek out deals online. Macy's also announced in January that it would close more than 60 stores as part of a strategy to shutter counterproductive locations while upgrading others through 2026. Dollar General recently confirmed it would close nearly 100 stores. Several other retailers are closing stores this year. That includes JOANN and Forever 21, which intend to close all of their locations after filing for bankruptcy.
Yahoo
17-03-2025
- Business
- Yahoo
Kohl's (NYSE:KSS) Sees 31% Drop Following Cautious 2025 Earnings Guidance
Kohl's recently announced significant downturns in its financial performance, marked by a decrease in sales and earnings for the fiscal year ended February 1, 2025. The company also issued a cautious earnings guidance for 2025, projecting declines in net sales and comparable sales, alongside reduced earnings per share estimates ranging from $0.10 to $0.60. This guidance likely influenced its stock's 31% decline over the past month. The U.S. stock market's broader struggles to rebound from a prolonged sell-off added to the challenges, as uncertainty regarding tariffs and potential economic slowdown affected investor sentiment. The company's quarterly dividend declaration of $0.125 per share, while a positive note, did not offset the impact of these broader issues on its share price. Amid a mixed market environment where major indices like the Nasdaq and S&P 500 have seen significant declines, Kohl's has faced amplified pressure, reflecting both internal and external adversities. Evaluate Kohl's historical performance by accessing our past performance report. Diversify your portfolio with solid dividend payers offering reliable income streams to weather potential market turbulence. Over the five-year period, Kohl's Corporation's total return, including share price and dividends, decreased by 20.12%. This performance reflects significant challenges the company has faced. In March 2025, Kohl's reported a decline in sales and net income for its fiscal year, highlighting struggles with revenue and a drop in net income from US$317 million to US$109 million. Notably, Kohl's underperformed compared to the US market, which reported a positive return of 9% over the past year. Additionally, the company faced management changes that added to the uncertainty. In November 2024, CEO Tom Kingsbury announced his departure, with Ashley Buchanan stepping in. Furthermore, plans for a partnership with WHP Global in March 2024 and the introduction of Babies 'R' Us experiences by fall 2024 were efforts to bolster performance. However, these initiatives, alongside the challenging market environment, have yet to mitigate the long-term decline in total shareholder returns. Invested in Kohl's? Simplify your portfolio management with Simply Wall St and stay ahead with our alerts for any critical updates on your stocks. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NYSE:KSS. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Sign in to access your portfolio
Yahoo
11-03-2025
- Business
- Yahoo
Kohl's (NYSE:KSS) Reports US$15.4 Billion Sales and US$109 Million Net Income in 2025
Kohl's reported a challenging fiscal year with significant declines in sales and net income, impacting its financial performance considerably. However, despite a broad market downturn of 4.6% over the last week, Kohl's shares saw a weekly gain of 6%, marking a surprising positive price move for the retailer amidst an otherwise negative economic backdrop. This deviation comes amidst broader market volatility fueled by recent tariff announcements from the Trump administration, which prompted general declines across major indexes like the Dow Jones and S&P 500. Notably, while many industries suffered from these tariff-driven uncertainties, Kohl's stock movement could reflect a localized investor sentiment shifting following the fiscal report, overshadowing broader market pressures. As the overall market continues to grapple with possible recessionary fears, Kohl's stock movement underscores how company-specific events can sometimes sway investor sentiment, contributing to unexpected price movements despite larger economic challenges. Click here to discover the nuances of Kohl's with our detailed analytical report. The last 5 years have seen Kohl's deliver a total shareholder return of 17.75%. Over this period, the retailer has faced declining earnings, with profits decreasing annually by 9.9%. This slump contrasts with the broader US Multiline Retail industry, which saw an 18.2% return in the past year, highlighting the challenges Kohl's has faced relative to its peers. The earnings decline was highlighted in the March 11, 2025 results, where Kohl's reported a drop in sales to US$15.38 billion, down from US$16.59 billion the previous year, and net income fell to US$109 million from US$317 million. Additionally, unstable dividend distributions and investor pressures for strategic changes compounded investor uncertainty. Despite several declared dividends of US$0.50 per share throughout 2024, the erratic repurchase activity, as evidenced by a reported pause in the buyback program, reflected uncertainties in capital allocation strategies. Executive changes, like the upcoming departure of CEO Tom Kingsbury in January 2025, alongside new board additions, have also shaped investor sentiment as the company navigates turnaround efforts. Discover whether Kohl's is fairly priced, undervalued, or overvalued in our comprehensive valuation breakdown. Explore the potential challenges for Kohl's in our thorough risk analysis report. Is Kohl's part of your asset mix? Tap into the analytical power of Simply Wall St's portfolio to get a 360-degree view on how they're shaping up. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NYSE:KSS. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@
