Kohl's CEO signals no additional store closures planned this year after shuttering 27 locations last year, focusing on optimizing existing 1,150 stores nationwide.

Kohl's fired CEO Ashley Buchanan after an investigation found he "violated company policies" for conflicts of interest, the retailer announced Thursday.

Kohl’s said that it is cutting 10% of its corporate workforce as the struggling company works to improve profitability. It previously announced it would close 27 stores.

Twenty-seven "underperforming" Kohl’s stores are set to shutter this spring. The company published a list of the locations late last week.

Kohl's announced that CEO Tom Kingsbury is stepping down in January. He will be replaced by Ashley Buchanan, the current chief executive of arts and crafts retailer Michaels.

Babies "R" Us shops will start to appear in Kohl’s this fall. The retailer said Thursday the first of the Babies "R" Us at Kohl’s sections have already launched.

Shares of Kohls Corp. plunged as much as 25% on Thursday after the retailer reported a surprise loss in the first quarter and cut its forecast for the year.

The results come after retail bellwether Walmart last week took a cautious stance going into the holiday shopping season, which is expected to grow at the slowest pace in five years.

Major retailers Walmart to Kohl's are kicking off their first sales events for the holiday shopping season that's falling on the backdrop of a slowing economy.

Kohl's withdrew its sales and profit forecasts following a third-quarter earnings report that revealed revenue decline amid record-high inflation.