Kohl’s decision to close 27 stores across more than a dozen states is more than a spreadsheet adjustment; it’s a turning point for a chain that once defined mid-priced American retail. The move comes as outgoing CEO Tom Kingsbury prepares to hand the reins to Ashley Buchanan, a leadership transition unfolding under the weight of falling holiday sales and a stock price that has dropped nearly 40% in six months. For employees and communities surrounding the affected locations, the closures mean uncertainty, job losses, and the loss of a familiar anchor in local shopping centers.

Yet Kohl’s insists this is a strategic reset, not a retreat. With roughly 1,150 stores still operating, the company is doubling down on store remodels, expanded categories, and its high-profile Sephora partnership to lure customers back. Whether this new chapter becomes a disciplined comeback or a slow fade will depend on how quickly Kohl’s can adapt to shoppers who have already moved on.