Kohl's plans to close a small fraction of stores

Posted at 8:48 AM, Feb 25, 2016
and last updated 2016-02-25 09:48:22-05
MENOMONEE FALLS, Wis. (AP) -- Kohl's Corp. says it will close a small fraction of brick-and-mortar stores as it meets the needs of its online customers.
Kohl's closure of 18 stores this year is a shift away from its aggressive expansion of stores in recent years across the country. CEO Kevin Mansell says the stores to be closed account to less than 1 percent of the company's sales. Kohl's has not announced which stores will be involved.
The Menomonee Falls 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.