The C-E-O of the Wisconsin based Kohl's Department Store chain says it plans to reduce inventories and square footage in about 200 locations this year.
Kevin Mansell told industry analysts Thursday it's important to keep brick and mortar stores open as a way to grow its online sales -- and with earnings down, he says he'd rather reduce store sizes than to close a lot of stores like Macy's is now doing. Kohl's of Menomonee Falls has slimmed down about 115 full sized stores to a smaller template that it now has in almost one fifth of its eleven-hundred-50 total locations. Kohl's only closed 19 stores nationally in 2016, and Mansell does not expect that to continue. His comments came after Kohl's reported a nearly three percent drop in sales for the three months ending January 28th.