November 10, 2005
KOHL'S CORPORATION REPORTS THIRD QUARTER EARNINGS OF $0.45 PER DILUTED SHARE

MENOMONEE FALLS, Wis., November 10, 2005 — Kohl's Corporation today reported results for the three months and nine months ended October 29, 2005.

Kohl's Corporation reported a 15.3 percent increase in net income for the quarter ended October 29, 2005. Net income was $155.1 million, or $0.45 per diluted share, compared to $134.6 million or $0.39 per diluted share a year ago. Net sales for the quarter increased 13.7 percent to $3.1 billion from $2.7 billion a year ago. Comparable store sales increased 3.5 percent for the same period.

For the nine months ended October 29, 2005, net income increased 21.4 percent to $467.0 million or $1.35 per diluted share, compared to $384.6 million or $1.12 per diluted share for the nine months ended October 30, 2004. Net sales increased 14.8 percent to $8.8 billion from $7.6 billion a year ago. Comparable store sales increased 3.9 percent for the same period.

Last year's results reflect the Company's decision to adopt expensing of stock options, which began in the first quarter of fiscal 2005. In accordance with the modified retrospective method, the prior year's results for both the quarter and year-to-date have been restated.

Larry Montgomery, Kohl's chairman and chief executive officer, said, "We continue to deliver the results we outlined for our shareholders at the beginning of the year. We are pleased with our performance on the gross margin line as a result of continued focus on inventory management. Our expenses were on plan and allowed us to make investments in marketing some of our new merchandise brands that will pay dividends in the fourth quarter. We believe we are well-positioned for the holiday season in terms of content and level of inventory, our in-store shopping environment and our marketing and advertising calendar."

Montgomery added, "I am very proud of our over 110,000 associates and the role they played in helping the Company achieve a successful third quarter and want to thank them for their hard work and dedication to serving our customers."

Expansion Update
During the third quarter, the Company opened 61 stores. New markets were the Orlando, FL market with six stores and the Jacksonville, FL market with three stores. In addition, the Company added 15 stores in the Midwest region, nine stores in the Southwest region, eight stores in the South Central region, seven stores in the Northeast region, eight stores in the Mid-Atlantic region and five stores in the Southeast region. One planned October opening in Beaumont, TX opened in November. In total, the Company opened 95 stores in fiscal 2005.

The Company will end the year with 732 stores in 41 states, compared to 637 stores in 40 states at the end of 2004.

The Company continues to expect to add 500 stores by the end of fiscal 2010 and is targeting opening 200 stores in the next two years. The Company plans to open approximately 70-80 stores in fiscal 2006 with approximately 17 stores opening during the first quarter, including its entry into the Pacific Northwest in the Portland, OR market.

Third Quarter Conference Call
Investors will have the opportunity to listen to the conference call today at 5:00 PM (EDT) by dialing (847) 619-6368 ten minutes prior to the start of the call. In addition, the call will be Webcast live over the Internet through the Company's Website located at http://www.kohls.com (Select "Investor Relations"/"Company News"), or through Broadcast Network's vcall Website located at http://www.vcall.com. To listen to the call, please go to the Website at least fifteen minutes early to register, download and install any necessary audio software. For those who cannot listen to the live broadcast, a replay will be available for 36 hours at (630) 652-3018, Pass Code: 12911709.

Cautionary Statement Regarding Forward-Looking Information
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including guidance on the Company's targeted sales and earnings. Kohl's intends forward-looking terminology such as "believes," "expects," "may," "will," "should," "anticipates," "plans," or similar expressions to identify forward-looking statements. Such statements are subject to certain risks and uncertainties, which could cause Kohl's actual results to differ materially from those anticipated by the forward-looking statements. These risks and uncertainties include, but are not limited to those described on Exhibit 99.1 to Kohl's annual report on Form 10-K, which is expressly incorporated herein by reference, and other factors as may periodically be described in Kohl's filings with the SEC.

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Investor Relations Contact:
Wes McDonald, Chief Financial Officer, (262) 703-1893

Public Relations Contact:
Vicki Shamion, Director of Public Relations, (262) 703-1464

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