Kohl's to close 27 stores by April as struggling retailer looks to improve profits, sales

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. The announcement comes as the Menomonee Falls, Wisconsin-based chain has had 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 in May. On Thursday, Macy’s disclosed the locations of 66 stores that it will be closing early this year, including one located in a historic landmark building in Philadelphia.