March 27, 2017 5:50 PM ET

Multiline Retail

Company Overview of Kohl's Corporation

Company Overview

Kohl's Corporation operates department stores in the United States. It offers private label, exclusive, and national brand apparel, footwear, accessories, beauty, and home products to children, men, and women customers. The company also sells its products online through Website Kohls.com. As of January 28, 2017, it operated 1,154 department stores, 12 FILA outlets, and 3 Off-Aisle clearance centers. Kohl's Corporation was founded in 1962 and is headquartered in Menomonee Falls, Wisconsin.

N56 W17000 Ridgewood Drive

Menomonee Falls, WI 53051

United States

Founded in 1962

32,000 Employees

Phone:

262-703-7000

Key Executives for Kohl's Corporation

Chairman, Chief Executive Officer and President
Age: 63
Total Annual Compensation: $1.4M
Chief Financial Officer
Age: 53
Total Annual Compensation: $881.6K
Chief Operating Officer
Age: 49
Total Annual Compensation: $1.2M
Chief Merchandising & Customer Officer
Age: 48
Total Annual Compensation: $1.0M
Chief Administrative Officer
Age: 55
Total Annual Compensation: $880.2K
Compensation as of Fiscal Year 2015.

Kohl's Corporation Key Developments

Kohl's Corporation Declares Increase in Quarterly Cash Dividend, Payable on March 22, 2017

Kohl's Corporation Board of Directors declared a quarterly cash dividend on the Company's common stock of $0.55 per share, a 10% increase over its prior dividend. The dividend is payable March 22, 2017 to shareholders of record at the close of business on March 8, 2017.

Kohl’S Corporation Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended January 28, 2017; Provides Earnings Guidance for the Fiscal Year 2017

Kohl’s Corporation announced un-audited consolidated earnings results for the fourth quarter and year ended January 28, 2017. For the quarter, the company reported net sales of $6,205 million against $6,387 million a year ago. Operating income was $473 million against $541 million a year ago. Income before income taxes was $398 million against $462 million a year ago. Net income was $252 million against $296 million a year ago. Diluted net income per share was $1.44 against $1.58 per share a year ago. Comp sales increased 40 basis points for the quarter. For the year, the company reported net sales of $18,686 million against $19,204 million a year ago. Operating income was $1,183 million against $1,553 million a year ago. Income before income taxes was $875 million against $1,057 million a year ago. Net income was $556 million against $673 million a year ago. Diluted net income per share was $3.11 against $3.46 per share a year ago. Net cash provided by operating activities was $2,148 million against $1,474 million a year ago. Acquisition of property and equipment was $768 million against $690 million a year ago. For fiscal year 2017, the company expects earnings per diluted share of $3.50 to $3.80. The company expects gross margin as a percentage of sales to increase 10 to 15 basis points over 2016; depreciation expense of $960 million; interest expense of $300 million; effective tax rate of 37.5%; and capital expenditures of $700 million.

Kohl's Corporation Reports Sales Results for the Month of November and December 2016; Revises Earnings Guidance for the Year 2016

Kohl's Corporation reported sales results for the month of November and December 2016. The company reported that its comparable sales decreased 2.1% in the fiscal months of November and December 2016 combined, compared with the prior year period. Total sales for the combined fiscal November and December period decreased 2.7%. From a line of business perspective, Men’s, Home and Footwear were the strongest categories while Accessories was the most challenging. On a regional basis, the Southeast, Mid-Atlantic and Northeast were the best performing regions. The company now expects its fiscal 2016 diluted earnings per share to be $2.92 to $2.97 versus its previous guidance of $3.12 to $3.32 per diluted share. Excluding impairments, store closing and other costs, fiscal 2016 diluted earnings per share is expected to be $3.60 to $3.65, down from the Company’s previously stated guidance of $3.80 to $4.00 per diluted share. The change in guidance is primarily a result of lower than planned sales for the quarter. Gross margin is projected to be lower than plan due to the mix and timing of the sales and the competitive promotional environment. Inventories per store at the end of the fourth quarter are projected to decrease from prior year levels in the mid-to-high single digit range.

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