A suburban Kohl’s store is one of 18 the company plans to close in June.
The retailer’s St. Charles location, at 3840 E. Main St., will be closed by June 19, the company said.
Kohl’s Corp. announced last month that it was closing 18 brick-and-mortar stores across the country. CEO Kevin Mansell said the stores to be closed account for less than 1 percent of the company's sales.
In addition to the St. Charles location, nine stores will close in California, and eight other stores in Florida, Georgia, North Carolina, New Jersey and Wisconsin will also close.
The closures are a shift away from the retailer’s aggressive expansion of stores in recent years across the country.
“While the decision to close stores is a difficult one, we evaluated all of the elements that contribute to making a store successful, and we were thoughtful and strategic in our approach. We are committed to leveraging our resources on our more productive assets,” Mansell said in a statement.
But there is good news for some Midwest shoppers. The company will be opening seven new "smaller format" Kohl’s stores in various regions around the country, as well as two "off-aisle" pilot spin-off discount stores in Wisconsin.
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Kohl’s will also make its first entry into the outlet space in the coming year, with plans to open 12 FILA outlet stores.
The Wisconsin-based retail chain reported fiscal fourth-quarter earnings of $296 million Thursday on net income of $1.58 per share. The results exceeded Wall Street expectations. The department store operator posted revenue of $6.4 billion for the quarter.
