KOHLS Corp (KSS): restructuring charge — Kohl's to close 27 stores, San Bernardino EFC; expects $60-80M pre-tax charges in Q4 2024

KOHLS Corp

Closure of 27 underperforming stores by April 2025 and San Bernardino EFC when lease expires in May 2025.
Estimated cumulative pre-tax charges of $60M–$80M, including $30M non-cash asset charges and $30M–$50M cash for severance and exit costs.
Charges expected to be substantially incurred in Q4 2024; company reaffirms FY2024 outlook excluding these charges.
Closed stores represent ~2.3% of Kohl's more than 1,150 locations; impacted associates offered severance or open roles.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

KOHLS Corp announced a restructuring with charges of approximately $60 million to $80 million affecting real estate and workforce (San Bernardino EFC, 27 underperforming stores).

Type: restructuring
Charge: approximately $60 million to $80 million
Affected area: real estate and workforce (San Bernardino EFC, 27 underperforming stores)

Exact text from the filing

Kohl’s currently estimates that it will recognize cumulative pre-tax charges of approximately $60 million to $80 million, including $30 million of non-cash charges in real estate and other asset-related charges, costs, and impairments and $30 million to $50 million of cash expenditures related to associate severance, benefits, and other exit costs.

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KOHLS Corp filing history →

Source: SEC EDGAR

accession 0001193125-25-004437

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