TUESDAY 3/31/2020 10:57 a.m.
(WFRV) – Kohl’s has announced that it will extend keep stores closed until further notice due to the coronavirus. In mid-March, Kohl’s announced it would temporarily close all of its stores until at least April 1.
“These are unprecedented times as our communities around the country come together to support the nationwide efforts in slowing the spread of COVID-19. At Kohl’s we are committed to doing our part as we extend the duration of our store closures to protect the health and safety of our customers and our associates,” said Michelle Gass, Kohl’s chief executive officer.
Previously, Kohl’s announced employees would receive two calendar weeks of pay. Since the store closures have been extended until further notice, Kohl’s says they will temporarily furlough store and store distribution center associates, as well as some corporate office associates.
Furloughed associates will continue to receive existing health benefits.
Kohl’s CEO, Michelle Gass, has also announced she will not take a salary during the coronavirus pandemic.
According to a Tuesday release, Kohl’s is taking additional steps “to preserve financial liquidity and financial flexibility”:
- Decreasing capital expenditures by approximately $500 million,
- Managing inventory meaningfully lower to align with anticipated sales,
- Significantly reducing expenses across the business including marketing, technology and operations while stores remain closed,
- Temporarily suspending share repurchases and evaluating its dividend program, and
- Fully drawing down its $1 billion revolving credit facility.
Kohl’s customers are encouraged to continue shopping online and through the Kohl’s App. Beginning April 2, Kohl’s customers can opt to pick up their items at most Kohl’s stores between 11 a.m. and 7 p.m.
For more information, visit Kohl’s website.
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Original Story: Kohl’s to temporarily close stores nationwide due to coronavirus
THURSDAY 3/19/2020 2:10 p.m.
(WFRV) – Kohl’s has announced that, as a result of the escalating coronavirus outbreak, it will temporarily close all stores nationwide beginning Thursday, March 19, at 7 p.m. The closure is scheduled to last until at least April 1.
“To demonstrate our support of the efforts underway to contain the spread of the coronavirus, we are closing all Kohl’s stores through at least April 1. We will support store associates with two calendar weeks of pay,” said Michelle Gass, Kohl’s chief executive officer. “We will continue to serve customers on Kohls.com and our Kohl’s App, and we look forward to reopening our stores soon to serve families across the country.”
Customers can continue to shop Kohl’s online and through the Kohl’s app. Items will be shipped directly to your home.