Kohl’s, the clothing department store chain, recently announced plans to close 27 underperforming locations across the United States by April, but Wyoming’s two stores, located in Casper and Cheyenne, will not be affected by the closures, Oil City News reports.
The decision to shutter stores in states such as California, Texas, and Colorado comes as the retailer grapples with financial challenges, including a nearly 40% drop in its stock value over the past six months. According to Kohl’s, the closures are part of a broader strategy to improve profitability.
In a press release, the company stated that affected employees would receive severance packages and be encouraged to explore other opportunities within Kohl’s. Despite the current wave of closures, the company did not comment on whether additional shutdowns might follow.
Alongside the closures, Kohl’s is undergoing leadership changes. Ashley Buchanan, former CEO of the arts and crafts chain Michaels, will take over as CEO. Outgoing CEO Tom Kingsbury will remain on the board and serve as an advisor during the transition.
For now, Wyoming shoppers can continue visiting their local Kohl’s stores, as the state’s locations remain unaffected by the company’s restructuring efforts.
