In January 2025, Kohl's announced it was closing 27 underperforming locations in 15 states, as well as its San Bernardino E-commerce Fulfillment Center (EFC) in California. At the time, the company's then CEO, Tom Kingsbury, said the closures were a "necessary" step "to support the health and future of our business for our customers and our teams."
In its earnings report yesterday, The Gap reported the following for its fourth quarter, which ended January 31, 2026: Net sales: $4.2 billion (up 2% year over year), Net income: $171 million, Diluted earnings per share (EPS): $0.45. Unfortunately for the company, these results were either in line with or below expectations.
Amazon is slashing 16,000 jobs in a second wave of layoffs at the e-commerce giant in three months, as the company restructures and leans on artificial intelligence. Wednesday's cuts follow the 14,000 redundancies that the Seattle, Washingtonbased company made in October. The layoffs are expected to affect employees working in Prime Video, Amazon Web Services, and the company's human resources department, according to the Reuters news agency, which first reported the cuts.