Kohl's planning to close some stores

In its financial statement just released, Kohl's says it will be closing 18 under-performing stores.

They said the stores represent less than 1-percent of its total sales.

The specific locations will be announced by the end of March.

The closures are expected to generate annual SG&A savings of approximately $45 million and annual depreciation savings of approximately $10 million, according to the company.

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