Kohl's Bets Big on California

This week Kohl’s will open thirty-five new stores; thirty of them in California, in former Mervyn’s locations (most of the rest of the Mervyn’s stores were acquired by Forever 21). Kohl’s has had a good recession, doing better than just about all its competitors, but this is a big gamble – increasing their store count in California by a third and investing $250 million in remodeling the stores.