Kohl’s said Friday it was closing 27 underperforming stores in 15 states by April — a fraction of its 1,150 store base — as the struggling department store aims to boost profitability and improve sagging sales.
Among those, one New Jersey location is set to close. The store on Princeton Hightstown Road in East Windsor was the only one in the tri-state area that is slated for closure.
The announcement comes as the Wisconsin-based chain has posted 11 consecutive quarters of sales declines and faces new leadership. Michaels CEO and retail veteran Ashley Buchanan will take over the chain’s top job, effective Wednesday, succeeding Tom Kingsbury, who will stay as an adviser to the new CEO and retain his position on Kohl’s board until his retirement this May…