Kohlís wants to shrink Waukesha store size
Location on southwest side would be affected

By Katherine Michalets - Freeman Staff

Feb. 27, 2018

WAUKESHA ó Kohlís is seeking to downsize its Waukesha store on the southwest side of the city on St. Paul Avenue.

In late 2017, the Menomonee Falls-based department store announced plans to ďright-sizeĒ some of its locations as the retailer market continues to change with more customers shopping online.

The 2140 W. St. Paul Ave. is one of those locations.

According to documents filed with the city on Friday, the company wants to shrink the footprint of the store by 25,101 square feet. That space would then be leased to a different business and the size of the Kohlís store would become 63,600 square feet.

Of the two Waukesha locations, the one on West St. Paul Avenue is smaller. The other is on Moreland Boulevard.

When Kohlís made the announcement it intended to right-size its stores, the company said the intent was to operate more efficiently and to balance its inventory and adjust fixtures.

Waukesha will discuss the companyís request during its Site Plan and Architectural Review meeting on March 28.

Kohlís is just one of many retailers affected by more people shopping online, especially with Amazon; however, the Wisconsin company reported solid holiday sales.

In a financial release Jan. 8, Kohlís said its total and comparable sales for November and December 2017 combined increased 6.9 percent compared to the same period last year.

ďWe are very pleased with our holiday period sales, which were consistently strong through November and December. All lines of business and all regions reported positive comp sales,Ē said Kevin Mansell, Kohlís chairman, chief executive officer and president, in a statement.

Due to the stronger than expected holiday sales and expectations for January, Kohlís had adjusted its expectations. According to the report, the fiscal 2017 diluted earnings per share are anticipated to be from $4.10 to $4.20 versus the companyís previous guidance of $3.72 to $3.92.

Excluding Kohlís previously disclosed fourth quarter tax settlement of $30 million, diluted earnings per share is expected to be $3.98 to $4.08, compared to its prior guidance of $3.60 to $3.80, according to the announcement.