Kohl's plans to open 70-75 stores in fiscal 2008

01 May '08

3 min read

At Kohl's annual shareholders meeting, company executives outlined strategic initiatives designed to help weather a difficult economic environment and deliver long-term profitability.

Larry Montgomery, Kohl's chairman and chief executive officer, said, “As I noted when year-end results were reported in February, the 2007 retail environment proved challenging; however, Kohl's continues to be financially strong. Our sales per square foot and operating margins are among the highest in the industry.

We also continue our nationwide expansion and will celebrate the opening of our 1,000th store this fall. With this continued growth, Kohl's added more than 11,000 jobs in 2007. Our 125,000 associates bring talent, inspiration and leadership to Kohl's to ensure we consistently deliver great brands, value, convenience and customer service in each of our locations.”

Montgomery continued, “We are planning inventory levels and expenses based upon very conservative sales estimates while continuing to invest the necessary resources to ensure our profitable growth over the long term.”

2007 and 2008 Strategic Overview:
In 2007, the company made significant progress on its four key initiatives – merchandise content, inventory management, marketing and in-store experience.

Part of Kohl's ongoing effort to differentiate itself in the marketplace has been the introduction of new, world-class brands. In 2007, private and exclusive brands comprised approximately 39 percent of sales.

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