News Flash

Kohl's outlines 5-year strategic growth plan

18 Aug '05

4 min read

Department store chain Kohl's Corporation is hosting an investor conference in Boston, where the Company will discuss its five-year financial objectives and supporting growth strategies.

By the end of fiscal year 2010, Kohl's plans to operate over 1200 stores, achieving sales of approximately $24 billion and net income of approximately $1.9 billion.

In reviewing the Company's projected growth, Larry Montgomery, Kohl's Chairman and Chief Executive Officer said, "They are pleased with the long-term performance of company business model lending confidence and excitement about the future growth plans.

By the end of 2010, they will have almost doubled the number of stores they currently operate, doubled sales and generated net income of over 2.5 times the net income generated in 2004. Company success is a reflection of company talented and dedicated Associates nationwide.

Store Expansion
The Company today announced plans to open approximately 500 stores for the five-year period from 2006 through 2010. The expansion plans continue to be a combination of new builds and acquired locations. Kohl's successfully operates stores in suburban locations, small markets and urban areas.

In reviewing plans for 2006 and 2007, the Company announced that it plans to open approximately 200 stores, including entry into the northwest with stores in Portland, Oregon and Seattle, Washington.

In reviewing these expansion plans, Larry Montgomery commented, "In seeing the changes in the current competitive landscape, they have made adjustments to expansion plan to put ourselves in a position to take advantage of real estate opportunities that might present themselves. They expect much of this to come together over the next 6 - 9 months."

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