Kohl’s
Kohl’s
Kohl’s is set to close four stores based in or near malls by the end of this year. The company is only doing this to prevent itself from going through the same pitfalls that other mall-centered companies did. The retailer has said the shops closing are its “lower-performing” stores. It also reassured everyone from those locations would be offered severance packages or jobs at other stores. If anything, it’s quite a relief to hear that the closures were a preventative measure rather than an urgent decision.
Lowe’s
Lowe’s
This year, the popular home and garden store has already shut down 51 of its underperforming stores. Out of them, 20 were in the United States and 31 in Canada. In late 2018, Lowe’s announced its plan. The company made this move not long after Marvin R. Ellison, former CEO of J.C. Penny, took over the company after the retirement of CEO Robert Niblock.