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Financial News


At Kohl's, we're always making headlines. Here are our most recent financial news releases. Click on any headline at the right to see the full release.


May 15, 2008
KOHL'S CORPORATION REPORTS EARNINGS FOR FIRST QUARTER OF FISCAL 2008  

MENOMONEE FALLS, Wis., May 15, 2008 — Kohl’s Corporation (NYSE:KSS) today reported results for the quarter ended May 3, 2008.

First-Quarter Results
Kohl’s Corporation reported net income for the quarter ended May 3, 2008, of $153.0 million, or $.49 per diluted share, compared with $209.0 million, or $.64 per diluted share, a year ago.  Net sales were $3.6 billion, an increase of 1.5 percent for the quarter.  Comparable store sales for the quarter decreased 6.7 percent.

Larry Montgomery, Kohl’s chairman and chief executive officer, said, “Our first-quarter results reflect strong management of inventory levels and expenses in a difficult economic environment.  We remain conservative in our sales expectations for the balance of the year and will manage our business accordingly.  We will continue to invest for the long term as we add new stores and remodel existing stores as well as invest in people and technology for market share gain.”

Montgomery added, “I am very proud of our 120,000 associates and the role they played in delivering these results in this environment and want to thank them for their hard work, loyalty and dedication to serving our customers.  They are the reason you can continue to ‘expect great things’ from Kohl’s.”

Expansion Update
During the quarter, Kohl’s successfully opened 28 stores.  The Company ended the quarter with 957 stores in 47 states, compared with 834 stores in 46 states at the same time last year.  The Company expects to open an additional 47 stores later this year for a total of 75 stores in fiscal 2008.

Earnings Guidance — Second Quarter and Fiscal 2008
The Company issued its initial guidance for the second fiscal quarter and updated its guidance for fiscal 2008.  For the second fiscal quarter, the Company expects earnings per diluted share of $0.70 to $0.74.  Based on its first-quarter results and assumptions of a total sales increase of 2% to 4% and a comparable sales change of negative 3% to negative 5% for the year, the Company now expects earnings per diluted share of $2.95 to $3.15 for the year. 

First-Quarter 2008 Earnings Conference Call
Investors will have an opportunity to listen to the first-quarter earnings conference call at 5:00 PM EDT on May 15 by dialing (706) 902-0486, using Conference ID 46523551.  A replay of the call will also be accessible from 6 PM EDT May 15 through June 16, 2008. To listen to the replay, dial (706) 645-9291, and use Conference ID 46523551.

In addition, the call will be Web cast live over the Internet through the Company's Web site located at http://www.kohls.com (under "Investor Relations" / "Event Calendar").  To participate in the conference, register at http://phx.corporate-ir.net/phoenix.zhtml?p=irol-eventDetails&c=60706&eventID=1843964 (Due to its length, this URL may need to be copied/pasted into your Internet browser’s address field.  Remove the extra space if one exists.) at least ten minutes prior to the call to download and install any necessary audio software.  The Web cast will be available for 30 days.

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 in Item 1A in 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.

About Kohl’s
Based in Menomonee Falls, Wis., Kohl’s (NYSE: KSS) is a family-focused, value-oriented specialty department store offering moderately priced, exclusive and national brand apparel, shoes, accessories, beauty and home products in an exciting shopping environment. Kohl’s operates 957 stores in 47 states and will celebrate the opening of its 1,000th store in the fall. A company committed to the communities it serves, Kohl’s has raised more than $102 million for children’s initiatives nationwide through its Kohl’s Cares for Kids® philanthropic program.  For a list of store locations and information, or for the added convenience of shopping online, visit www.kohls.com.

###

Click here for Kohl's Condensed Consolidated Statements of Income, Condensed Consolidated Balance Sheets
and Condensed Consolidated Statements of Cash Flows.
Available in Adobe Acrobat format.
Download Adobe Acrobat Reader for free, now.

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

Media Contact:
Vicki Shamion, Vice President – Public Relations, (262) 703-1464

 

 

Recent Headlines Click on any headline below to view the full release.

 
  September 3, 2008
KOHL'S CORPORATION REPORTS AUGUST COMPARABLE STORE SALES
 
  August 14, 2008
KOHL'S CORPORATION REPORTS EARNINGS OF $0.77 PER DILUTED SHARE FOR SECOND QUARTER OF FISCAL 2008
 
  August 7, 2008
KOHL'S CORPORATION REPORTS JULY COMPARABLE STORE SALES
 
  July 10, 2008
KOHL'S CORPORATION REPORTS JUNE COMPARABLE STORE SALES
 
  June 5, 2008
KOHL'S CORPORATION REPORTS MAY COMPARABLE STORE SALES
 
  May 15, 2008
KOHL'S CORPORATION REPORTS EARNINGS FOR FIRST QUARTER OF FISCAL 2008
 
  May 8, 2008
KOHL'S CORPORATION REPORTS APRIL COMPARABLE STORE SALES
 
  April 30, 2008
KOHL'S OUTLINES STRATEGIC INITIATIVES AT ANNUAL SHAREHOLDERS MEETING
 
  April 10, 2008
KOHL'S CORPORATION REPORTS MARCH COMPARABLE STORE SALES
 
  March 21, 2008
KOHL'S CORPORATION ANNOUNCES FILING OF ITS ANNUAL REPORT ON FORM 10-K
 
  March 6, 2008
KOHL'S CORPORATION REPORTS FEBRUARY COMPARABLE STORE SALES
 
  February 28, 2008
KOHL'S CORPORATION REPORTS EARNINGS FOR FOURTH QUARTER AND FISCAL 2007
 
  February 7, 2008
KOHL'S CORPORATION REPORTS JANUARY SALES
 
  January 10, 2008
KOHL'S CORPORATION REPORTS DECEMBER SALES
 
  December 6, 2007
KOHL'S CORPORATION REPORTS NOVEMBER COMPARABLE STORE SALES
 
  November 15, 2007
KOHL'S CORPORATION REPORTS THIRD QUARTER EARNINGS RESULTS
 
  November 8, 2007
KOHL'S CORPORATION REPORTS OCTOBER COMPARABLE STORE SALES
 
  October 11, 2007
KOHL'S CORPORATION REPORTS SEPTEMBER COMPARABLE STORE SALES
 
  October 2, 2007
KOHL'S UNVEILS FIVE-YEAR STRATEGIC GROWTH PLAN; PLANS TO INCREASE NATIONAL PRESENCE TO 1,400 STORES BY 2012
 
  September 20, 2007
KOHL'S BOARD OF DIRECTORS AUTHORIZES $2.5 BILLION SHARE REPURCHASE PROGRAM
 
  September 6, 2007
KOHL'S CORPORATION REPORTS AUGUST COMPARABLE STORE SALES
 
  August 16, 2007
KOHL'S CORPORATION REPORTS 20.3 PERCENT INCREASE IN SECOND QUARTER EARNINGS PER SHARE OF $0.83
 
  August 9, 2007
KOHL'S CORPORATION REPORTS JULY COMPARABLE STORE SALES
 
  July 12, 2007
KOHL'S CORPORATION REPORTS JUNE COMPARABLE STORE SALES
 
  June 7, 2007
KOHL'S CORPORATION REPORTS MAY COMPARABLE STORE SALES INCREASE OF 10.5 PERCENT
 
  May 17, 2007
KOHL'S CORPORATION REPORTS FIRST QUARTER NET INCOME INCREASE OF 24.9 PERCENT AND DILUTED EARNINGS PER SHARE OF $0.64
 
  May 10, 2007
KOHL'S CORPORATION REPORTS APRIL COMPARABLE STORE SALES
 
  April 12, 2007
KOHL'S CORPORATION REPORTS MARCH COMPARABLE STORE SALES INCREASE OF 16.8 PERCENT