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.
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.
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
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