Kohl's new CEO Michael Bender announced there are no plans for additional store closures in 2026, marking a shift from the company's recent downsizing efforts.[1] During a March 10 earnings call, Bender stated that over 90% of the company's approximately 1,150 stores remain profitable and that he would "not anticipate any sort of grand plan of saying we're taking stores out," instead focusing on optimizing existing locations.[1]
Who's Involved
Michael Bender, Kohl's third CEO in nearly three years (appointed in November 2025), made these statements during the company's fourth-quarter 2025 earnings report.[1] The announcement follows Tom Kingsbury's tenure as CEO, during which he announced the closure of 27 underperforming stores in January 2025, all of which had shut down by April 2025.[1]
Context and Timeline
Kohl's closed 27 stores across 15 states in early 2025 along with its San Bernardino E-commerce Fulfillment Center to address struggling finances.[1][2] The closures reduced the store count from over 1,150 to 1,123 locations.[1] However, recent results show mixed performance: while the company beat earnings expectations with Q4 diluted EPS of $1.07, net sales and comparable sales both declined roughly 4% and 3% respectively for fiscal 2025.[1] Kohl's stock has declined 37% year-to-date but is up 48% over the past 12 months following Bender's appointment and a surprise Q3 earnings beat.[1]
Why It's Newsworthy
The announcement is significant because it signals stabilization in Kohl's strategy after years of upheaval—the company is shifting from reactive store closures to proactive optimization of its remaining footprint. This represents a departure from the previous CEO's approach and suggests confidence that the 2025 closures addressed the core underperformance issues, though the company's ongoing sales declines and long-term stock struggles indicate challenges remain.