Michael Bender has assured customers and employees that Kohl's will not be closing more stores in 2026, signaling a shift in focus toward strengthening existing locations and boosting sales.
Last year, Kohl's shuttered 27 stores across 15 states and closed its San Bernardino e-commerce fulfillment center in California.
Then-CEO Tom Kingsbury described the closures as a "necessary" step to support the health and future of the retailer, NY Post reported.
When Bender took over in November, many wondered if the new leadership would continue that trend.
During a post-earnings call following the company's fourth-quarter 2025 report, Bender responded to a question about potential additional closures.
"I would not anticipate any sort of grand plan of saying we're taking stores out or adding stores at this point," he said.
He added that over 90% of Kohl's roughly 1,150 locations remain profitable, though the company will continue evaluating each store's "hygiene" to ensure it is "positioned in the right spot" for growth.
Kohl’s CEO reveals big decision on closing stores after 2025 shutdowns, sales drop Kohl’s CEO Michael Bender has revealed that customers and staffers do not need to worry about more intense store closures this year as he focuses on turning around the fla… https://t.co/wpVzmRbPMc pic.twitter.com/ghFYQDfkXZ
— NahBabyNah (@NahBabyNahNah) March 18, 2026
Kohl's Same-Store Sales Drop 2.8%
Bender emphasized that the company's main focus is on optimizing its current stores.
"We'll be focused on making sure that we continue to push the store's productivity as far as we can going forward," he said. The retailer also reviews its store footprint annually to align with performance and customer needs.
Like many traditional department stores, Kohl's has faced ongoing challenges from declining in-store traffic and increasing competition from online retailers such as Amazon, Temu, and Shein.
In its most recent quarter, same-store sales dropped 2.8%, while full-year fiscal 2025 comparable sales fell 3.1%.
Despite the decline, Kohl's reported earnings per share of $1.07 for the quarter, surpassing Wall Street expectations of 86 cents.
According to FastCompany, Kohl's stock has had a rocky start in 2026, falling more than 37% year-to-date to close at $12.69.
However, the company has seen gains over the past year, driven by Bender's appointment, a strong Q3 2025 earnings report, and renewed investor optimism.
Bender also worked to streamline partnerships with brands such as Sephora and Babies "R" Us.
Originally published on vcpost.com
