Kohls Q1 2016 Fact Book

Transcription

Fact Book
Q1 2016
WELCOME
A MESSAGE FROM KEVIN MANSELL
Times have certainly changed since we opened our first store in Brookfield,
Wisconsin back in 1962. Today, Kohl’s operates more than 1,100 family-oriented
department stores and a website (www.Kohls. com). Our stores are stocked
with quality national and exclusive brands, offering everything our customers
need for themselves, their families and their homes.
Today, we live in a dynamic, fast-paced, changing environment that is driving
the way customers shop. Online shopping has become so much more than just
visiting a website. With mobile smartphones and tablets, our customers can shop
anywhere at any time. Kohl’s is consistently adapting its shopping experience
to provide the customer-centric, omni-channel strategy necessary to provide
Chairman, Chief Executive Officer,
and President
a consistent, connected and personal shopping experience regardless of the
shopping platform used.
While a lot has changed over the past 50 years, some very important things have
not. We remain just as committed to our customers, our associates and to our
communities as we did when we opened our first store in 1962. Since our initial
public offering in 1992, we are also committed to delivering shareholder value.
Our purpose is clear – to inspire and empower families to lead fulfilled lives. As
we set out on our path forward, our Greatness Agenda, we are also committed
to our goal of becoming the most engaging retailer in America through our
five strategic pillars – ideas fundamental to the way we do business – amazing
product, incredible savings, easy experience, personalized connections and
winning teams.
At Kohl’s, we have a responsibility to our investment community to provide accurate,
timely and helpful information about our company. Whether you’re a prospective
investor or long-time shareholder, we hope that you will find this Fact Book a
valuable reference. We also routinely post information that may be important to
investors in the Investors section of our website at: www.Kohlscorporation.com.
We encourage you to consult that section of our website regularly.
Legal Disclaimer
This Fact Book is intended to provide background information on Kohl’s Corporation. It should be read in conjunction with the company’s news releases and filings with the U.S. Securities
and Exchange Commission (SEC). These are available on the SEC website at www.sec.gov, from commercial document retrieval services, and on our corporate website at www.Kohlscorporation.com.
This Fact Book contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. 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. Forward-looking statements in this Fact Book will not be updated so it is possible that such material is no longer current.
2
INVESTOR RELATIONS | N56 W17000 RIDGEWOOD DRIVE | MENOMONEE FALLS, WISCONSIN 53051 | 262.703.1440
TABLE OF
CONTENTS
About Kohls...........................................................................................4
Corporate Milestones.........................................................................6
Lifestyle Matrix...................................................................................... 7
Private & Exclusive Brands...............................................................8
Real Estate.............................................................................................12
Financials.............................................................................................. 13
Capital Management......................................................................... 16
Social Awareness................................................................................17
Sustainability Program..................................................................... 18
Executive Biographies..................................................................... 20
Board of Directors..............................................................................21
Corporate Information.....................................................................22
3
ABOUT KOHL’S
Our goal is to become the most engaging retailer in America
through five strategic pillars: amazing product, incredible
savings, easy experience, personalized connections and
winning teams.
•We were founded in 1962 and remain headquartered in
Menomonee Falls, Wisconsin – a suburb of Milwaukee.
•We operate more than 1,100 stores across 49 states
and generate annual sales in excess of $19 billion.
•We are focused on creating an easy, connected
omni-channel experience for our customers. One
of the cornerstones of this strategy is Kohls.com,
which launched in 2001.
•Our success is driven by a winning team of
approximately 140,000 associates who consistently
put customers first, act with integrity, build great
teams and drive results.
•We offer quality, national and exclusive brands for our
customers, their families and their homes. In addition
to our powerful portfolio of only-at-Kohl’s brands,
which includes well-known brands such as Simply Vera
Vera Wang, Jennifer Lopez and Food Network, we are
the #1 retailer in the U.S. of many national brands such
as Levi’s, Dockers and Columbia.
Merchandise Mix
Footwear 9%
Accessories 10%
Women’s 30%
Men’s 20%
Home 18%
Children’s 13%
Brand Mix
National 52%
Private
& Exclusive 48%
Classic 34%
Modern
Classic
41%
Contemporary 25%
4
THE GREATNESS AGENDA--Our pillars
Amazing Product:
Creating assortments
that excite our customers
• Discover and launch products
and categories in unexpected ways that excite our customers.
• Lead in the Active category and be the destination for wellness lifestyles.
• Create unique assortments by store to drive local relevancy.
Incredible Savings:
Helping every customer
get even more from
every dollar
• Elevate our value leadership through insights-driven
pricing and promotion
excellence.
Easy Experience:
Designing simple, easy
experiences that inspire
customers
• Be world class in digital.
• Create inviting and inspiring in-store experiences.
• Launch new formats and distribution channels to
increase sales.
Personalized Connections:
Understanding our
customers deeply to
build genuine, enduring
relationships
•
Accelerate Personalization as a key competitive advantage
across all customer
experience touch points:
Make it personal.
• Win new customers.
Winning Teams:
Building teams of
engaged, talented,
results-oriented people
who are empowered to
deliver yes
• Be famous for engaging, developing and recognizing great teams.
5
CORPORATE MILESTONES
1962
After growing a small grocery store business into the larg-
est supermarket chain in the Milwaukee area, Max Kohl opened the first
Kohl’s Department Store in Brookfield, Wisconsin. Kohl’s was positioned
between the higher-end department stores and the discounters, selling
everything from candy to engine oil to sporting equipment.
1975
1978
BATUS, Inc., the U.S. division of BAT Industries, (British
American Tobacco) PLC, purchased an 80 percent stake in the Kohl’s Food
and Department Stores and took complete control of the company. The Kohl
family withdrew from the operations of the company.
1980
1983
BATUS, Inc. sold Kohl’s Food Stores to Great Atlantic and
Pacific Tea Company (A&P). A&P closed the Kohl’s food stores in 2003.
1986
A management-led group of investors formed Kohl’s Cor-
poration and acquired Kohl’s Department Stores from BATUS, Inc. At that
time, there were 40 stores with annual sales of $300 million and over 5,000
Associates.
1987
merchandisers and discounters. The chain dropped
low-volume, low-margin departments such as candy, sewing
notions and sporting goods in favor of higher-margin merchandise
such as linens and jewelry.
We acquired 26 Main Street stores from Federated Depart-
ment Stores, increasing our store count to 66 and enabling us to move
into new markets in Michigan, Minneapolis/St. Paul and Chicago.
1968
6
We completed an initial public offering of 11.1 million shares,
one of Wisconsin’s largest initial offerings.
1996 Our stock split two for one in April.
1998 Kohl’s joined the S&P 500. Our stock split two for one in April.
1999 Larry Montgomery was named Chief Executive Officer
(CEO) replacing William Kellogg. Mr Kellogg retired at the end of fiscal
2000 after 34 years of service.
2000
2000 Our stock split two for one in April.
2001 The introduction of Kohls.com brought online shopping
to our customers, providing the added convenience of shopping from
home.
2004
2008
Kevin Mansell was named President and CEO in
August, and Chairman of the Board in September. Larry
Montgomery retired after 22 years with Kohl’s.
2010
We opened a second E-Commerce fulfillment center
to support the growth of our on-line business. We also rolled out
in-store kiosks to all stores.
Over 80 percent of our merchandise carried national brand
names recognized for quality – setting the company apart from mass
1988
1992
2011
We paid our first quarterly dividend, $0.25 per share on
March 30th and opened a third E-Commerce fulfillment center.
Our E-Commerce business exceeded $1 Billion in revenues.
2012
We celebrated our 50th year of operations and opened
our fourth E-Commerce fulfillment center.
2014
We launched the Greatness Agenda to lay out our 3 year
plan to our associates and investors.
2016
2016
WE DELIVER A STRONG BRAND PORTFOLIO
AND SUPERIOR MERCHANDISING ASSORTMENT
THE LIFESTYLE MATRIX
MODERN CLASSIC
CONTEMPORARY
GOOD
BETTER
BEST
CLASSIC
™
7
PRIVATE BRAND LAUNCHES BY DATE
AND LINE OF BUSINESS
Accessories
Children’s
2005
Footwear
2005
Home
2006
Men’s
Women’s
2004
2004
1988
1989
1998
1988
™
8
1992
2008
2009
2007
2007
2007
1995
1994
1995
2010
2008
2007
1995
1994
1994
2000
2003
1999
2004
2004
EXCLUSIVE BRAND LAUNCHES BY DATE
AND LINE OF BUSINESS
Accessories
Children’s
Footwear
Home
2006
2005
2006
2006
2006
2006
2006
2007
2009
2009
2009
2009
2009
2008
Men’s
Women’s
2005
2005
2006
2009
2010
2008
2007
2008
2008
2007
2011
2011
2011
2011
2014
2014
2014
2014
2011
2011
2009
2011
2009
2009
2009
2012
2012
2012
2007
2007
2011
2009
2012
2007
2012
2007
9
KOHL’S IS A NATIONWIDE CONCEPT WITH STORES
CONVENIENTLY LOCATED ACROSS THE UNITED STATES
At the time of our initial public offering in 1992, we had 76 stores in the Midwest. In 2003, we opened 28 stores in California, giving us a
coast-to-coast presence for the first time in our history. In 2006, we expanded into the Northwest with 10 new stores in Oregon and
Washington. Between 2005 and 2008, we expanded our Southeast presence by opening 43 stores in Florida. Today, we operate
more than 1,100 stores in 49 states.
244
24
2
44
4
4
307
3
157
115
57
5
7
116
6
115
152
52
52
1167 Stores
49 States
Capital Investments
Over the past 7 years, our capital investments have shifted from building new stores to continuously improving our customers shopping
experience. Whether it’s new merchandise presentation and brand roll-outs, an improved check-out experience or an easier on-line
shopping experience, our investments are designed to provide an exciting, easy, personalized shopping experience.
10
KOHL’S STATE BY STATE
State
Alabama
Distribution
Centers
Employees
State
Stores
Nebraska
Distribution
Centers
Employees
14
1,200
1
100
26
2,600
Arkansas
8
700
California
125
13,900
Colorado
24
2,700
New York
51
Connecticut
22
2,500
North Carolina
31
3,300
5
700
North Dakota
4
300
Florida
53
5,100
Georgia
35
Alaska
Arizona
Delaware
11
Stores
Idaho
5
Illinois
67
Indiana
3
1
3,900
500
7
800
Nevada
12
1,200
New Hampshire
11
1,000
New Jersey
38
5,200
New Mexico
5
500
Ohio
1
58
2
7,800
8,600
Oklahoma
11
1,200
Oregon
11
900
8,100
Pennsylvania
50
6,100
38
4,400
Rhode Island
3
400
Iowa
18
1,700
South Carolina
16
1,500
Kansas
12
1,200
South Dakota
3
400
Kentucky
17
1,900
Tennessee
20
2,100
Louisiana
9
1,200
Texas
84
Maine
5
500
Utah
12
1,100
100
1
2
9,100
2,500
Vermont
2
25
3,000
Virginia
31
Michigan
46
5,200
Washington
19
1,800
Minnesota
26
3,100
7
700
Mississippi
5
400
Wisconsin
40
10,500
3,800
Wyoming
2
200
900
Total
Maryland
23
Massachusetts
Missouri
27
Montana
3
1
1
West Virginia
1167
1
13
3,400
140,000
REAL ESTATE
Number of Stores
2012
Q1
Q2
Q3
Q4
1,134
1,134
1,146
1,146
1,158
2013
1,155
1,155
1,158
2014
1,160
1,160
1,163
1,162
2015
1,164
1,164
1,166
1,164
2016
1,167
Square Footage ( in Thousands )
Gross
2012
Selling
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
98,883
98,883
99,567
99,567
82,549
82,549
83,098
83,098
2013
100,107
100,107
100,275
100,275
83,536
83,536
83,671
83,671
2014
100,340
100,340
100,494
100,394
83,715
83,715
83,833
83,758
2015
100,507
100,507
100,619
100,427
83,849
83,849
83,942
83,784
2016
100,596
83,906
Stores by Region
Mid Atlantic
Midwest
Northeast
South Central
Southeast
West
Total
2012
113
301
153
146
188
245
1,146
2013
115
306
155
148
189
245
1,158
2014
115
306
155
151
191
244
1,162
2015
115
306
156
151
191
245
1,164
2016
116
307
157
152
191
244
1,167
Stores by Ownership (#)
Stores by Ownership (%)
Owned
Leased
Total
Owned
Leased
Total
2012
407
739
1,146
36%
64%
100%
2013
412
746
1,158
35%
65%
100%
2014
413
749
1,162
36%
64%
100%
2015
414
750
1,164
36%
64%
100%
2016
414
753
1,167
35%
65%
100%
Stores by Store Type
Stores by Location
Prototype & Urban
Small
Total
Strip Center
Malls
Freestanding
Total
2012
992
154
2013
993
165
1,146
771
85
290
1,146
1,158
777
85
296
2014
988
1,158
174
1,162
780
85
297
1,162
2015
2016
986
178
1,164
782
85
297
1,164
986
181
1,167
783
86
298
1,167
12
FINANCIALS
13
FINANCIALS
($ in Millions, except per share info)
Quarterly Operating Results
Net sales
Q1 2016
Q4 2015
Q3 2015
Q2 2015
Q1 2015
$3,972
$6,387
$4,427
$4,267
$4,123
Net income
$17
$296
$120
$130
$127
Diluted net income per share (e)
$0.09
$1.58
$0.63
$0.66
$0.63
Dividends per common share
$0.50
$0.45
$0.45
$0.45
$0.45
Annual Operating Results
2015
2014
2013
2012(a)
2011
Statements of Operations Data:
Net sales
$19,204
$19,023
$19,031
$19,279
$18,804
Cost of merchandise sold
12,265
12,098
12,087
12,289
11,625
Selling, general and administrative expenses
4,452
4,350
4,313
4,267
4,243
934
886
889
833
778
1,553
1,689
1,742
1,890
2,158
327
340
338
329
299
Depreciation and amortization
Operating income
Interest expense, net
Loss on extinguishment of debt
Income before income taxes
Provision for income taxes
Net income
169
0
0
0
0
1,057
1,349
1,404
1,561
1,859
384
482
515
575
692
$673
$867
$889
$986
$1,167
Net income per share:
Basic
$3.48
$4.28
$4.08
$4.19
$4.33
Diluted
$3.46
$4.24
$4.05
$4.17
$4.30
$1.80
$1.56
$1.40
$1.28
$1.00
1.0%
0.0%
(1.3%)
2.5%
2.2%
Comparable sales growth (b)
0.7%
(0.3%)
(1.2%)
0.3%
0.5%
Net sales per selling square foot (c)
$228
$226
$227
$231
$232
Gross margin as percentage of sales
36.1%
36.4%
36.5%
36.3%
38.2%
Dividends per share
Operating and Other Data:
Net sales growth
Operating income as a percentage of sales
8.1%
8.9%
9.2%
9.8%
11.5%
Return on average shareholders' equity (d)
11.8%
14.7%
14.8%
15.8%
16.4%
Cash Flows from Operations
1,474
2,024
1,884
1,265
2,139
690
682
643
785
927
83,810
83,750
83,671
83,098
82,226
Capital expenditures
Total square feet of selling space (in thousands)
Number of stores
1,164
1,162
1,158
1,146
1,127
Working capital
$2,362
$2,721
$2,412
$2,061
$2,111
Total assets
13,606
14,333
14,228
13,761
14,021
2,792
2,780
2,777
2,478
2,128
Capital lease and financing obligations
1,916
1,968
2,069
2,061
2,103
Shareholders' equity
5,491
5,991
5,978
6,048
6,508
$781
$867
$889
$986
$1,167
Diluted earnings per share
$4.01
$4.24
$4.05
$4.17
$4.30
Return on average shareholders’ equity
13.5%
14.7%
14.8%
15.8%
16.4%
Long-term debt
Excluding loss on extinguishment of debt:
Net income
(a) Fiscal 2012 was a 53 week year. During the 53rd week, total sales were $169 million; selling, general and administrative expenses were approximately $30 million; interest was
approximately $2 million; net income was approximately $15 million and diluted earnings per share was approximately $0.06.
(b) Comparable sales growth is based on sales for stores (including relocated or remodeled stores) which were open throughout both the full current and prior year periods and
E-Commerce. Fiscal 2012 excludes the 53rd week.
(c) Net Sales per selling square foot is based on stores open for the full current period and omni-channel. 2012 excludes the impact of the 53rd week.
(d) Average shareholders’ equity is based on a 5-quarter average.
(e) Excluding Impairments, Store Closing & Other Costs, Diluted net income per Share was $0.31 for Q1 2016
14
FINANCIALS
Quarter
Q1
Q2
Year-to-Date
Q2
Q3
Q4
Q3
Q4
Q1
4,205
4,289
4,242
4,267
4,490
4,444
4,374
4,427
6,342
6,099
6,337
6,387
4,243
4,199
4,070
4,123
3,972
8,447
8,488
8,312
8,390
12,937
12,932
12,686
12,817
19,279
19,031
19,023
19,204
(1.0%)
2.0%
(1.1%)
0.6%
2.6%
(1.0%)
(1.6%)
1.2%
5.4%
(3.8%)
3.9%
0.8%
1.9%
(1.0%)
(3.1%)
1.3%
(3.7%)
0.4%
0.5%
(2.1%)
0.9%
1.2%
–%
(1.9%)
1.0%
2.5%
(1.3%)
0.0%
1.0%
1.1%
(1.6%)
(1.8%)
1.0%
1.9%
(2.0%)
3.7%
0.4%
0.2%
(1.9%)
(3.4%)
1.4%
(3.9%)
(1.3%)
(0.5%)
(2.3%)
0.8%
(0.5%)
(0.9%)
(2.2%)
0.8%
0.3%
(1.2%)
(0.3%)
0.7%
Total Sales Dollars (in Millions)
2012
2013
2014
2015
2016
4,243
4,199
4,070
4,123
3,972
Total Sales Growth
2012
2013
2014
2015
2016
1.9%
(1.0%)
(3.1%)
1.3%
(3.7%)
Comparable Store Sales Growth
2012
2013
2014
2015
2016
0.2%
(1.9%)
(3.4%)
1.4%
(3.9%)
(2.7%)
0.9%
(1.3%)
0.1%
Comparable Sales include sales for stores (including relocated or remodeled
stores) which were open during both the current and prior year periods.
Comparable sales also include e-Commerce sales.
15
CAPITAL MANAGEMENT
Our disciplined approach to capital management has resulted in
a strong balance sheet and our ability to generate free cash flow –
Capital Returned to Shareholders (in Millions)
which in turn allows us to return value to our shareholders through
both dividends and share repurchases.
$2,582
$271
Dividends
We paid our first quarterly dividend in February 2011. This dividend
$2,311
has increased each year – from 25 cents per common share in 2011,
$1,593
to 32 cents in 2012, to 35 cents in 2013, to 39 cents in 2014, to 45
cents in 2015, and most recently to 50 cents in 2016.
$1,350
$300
$1,293
$1,101
Share Repurchases
$302
We also have an active share repurchase plan. Since 2006, we have
$799
repurchased almost 50% of our outstanding stock – over 180 million
$349
$994
$317
$1,001
$677
shares at a cost of almost $10 billion dollars.
2011
2012
2014
2013
Share Repurchases
2015
Dividends
ROI
Return on Gross Investment (“ROI”)*
is calculated as
$302
earnings before interest, taxes, depreciation, amortization and rent
18.8%
divided by average gross investment. We believe that ROI measures
how effectively we utilize our assets, excluding cash equivalents and
16.8%
long-term investments, to generate earnings.
2011
2012
15.5%
15.2%
14.5%
2013
2014
2015
Debt to EBITDAR
Adjusted Debt to EBITDAR*
is calculated as our adjusted
outstanding debt balance divided by earnings before interest, taxes,
2.42
2.45
2013
2014
2.52
2.23
depreciation and amortization and rent. Our current goals are to
maintain an adjusted debt to EBITDAR ratio of approximately 2.25,
to manage debt levels to maintain a BBB+ investment-grade credit
1.99
rating and to operate with an efficient capital structure for our size,
growth plans and industry.
2011
2012
2015
* For additional details regarding how we calculate these non-GAAP financial measures, see our Annual Report on Form 10-K.
16
SOCIAL AWARENESS
17
SUSTAINABILITY PROGRAMS
1,000th STORE
achieved ENERGY STAR
certification bringing our
total stores certified to
1,009 (or over 85% of
our total stores)
465 Kohl’s buildings
are LEED Certified – more
than one-third of our building
portfolio
Number 1 ranking 163 solar arrays
on the EPA’s Green Power
Partnership’s Top 30 Retail
since 2009
hosted at Kohl’s facilities,
including 9 solar trees,
making Kohl’s one of the
largest hosts in North America
83% Operational
6 straight years
Recycling Rate
18
of carbon neutrality in
our owned operations
SUSTAINABILITY PROGRAM
Sustainability at Kohl’s
ership in advancing green power development.
We are committed to protecting and conserving the environment
Kohl’s continues to evolve waste recycling programs and
by seeking solutions that encourage long-term sustainability.
waste avoidance strategies to help support our efforts to
The steps we take – both big and small – drive results to
conserve resources. This means encouraging Associates,
ensure that we leave a smaller footprint to conserve the
partners and customers to reduce their waste, and looking
environment for generations to come.
for opportunities to reuse and recycle materials.
Sustainable Operations
Sustainable Supply Chain
Kohl’s is committed to providing healthy and engaging
Our responsibility and commitment to sustainable operations
environments for our customers, Associates and communities
extends beyond our “four walls” to the external partners in
through our more than 1,110 stores, facilities, and corporate
our supply chain. As stewards of sustainable operations, we
offices. As part of these efforts, we are invested in building
seek new partnerships to promote long-term sustainability.
and maintaining energy-efficient, sustainable buildings. We
We are a founding member of the Sustainable Apparel
use the U.S. Green Building Council’s Leadership in Energy
coalition, an active member of the Business for Social
and Environmental Design (LEED) rating system to guide
Responsibility Group (BSR) and partner to the EPA’s
the design, construction, and operation of our stores.
SmartWay Program. Through these key partnerships we
can effectively promote environmental responsibility along
Kohl’s has been working with the U.S. Environmental Protection
our supply chain.
Agency’s ENERGY STAR program for more than 15 years. In
recognition of our continued leadership in energy efficiency,
Kohl’s was awarded an ENERGY STAR Partner of the Year –
Sustained Excellence Award in 2016 for a fifth consecutive
year.
We are also an active member of the EPA’s Green Power
Partnership, a program dedicated to encouraging the use
of renewable and more sustainable sources of energy. Since
2009, we have ranked #1 on the Partnership’s top 30 for retail
list. We are honored to be recognized for our continued lead-
19
EXECUTIVE BIOGRAPHIES
KEVIN MANSELL
Chairman, Chief Executive Officer and President
Kevin Mansell, Chairman, Chief Executive Officer and President, is responsible for Kohl’s long term growth and profitability
along with strategic direction.
Mr. Mansell has held a number of progressive positions within the company. He joined Kohl’s in 1982 as a divisional
merchandise manager and was promoted to general merchandise manager in 1987. Over the next nine years, his
responsibilities expanded to include merchandise planning and allocation. Mansell was promoted to senior executive vice
president of merchandising and marketing in 1998. The following year, Mansell was named president and director. He was
promoted to Kohl’s CEO in 2008 and named Chairman of the Board in 2009. Mansell began his career in retail in 1975, joining
the Venture Store division of May Department Stores, where he held a variety of positions in buying and merchandising.
SONA CHAWLA
Chief Operating Officer
Sona Chawla, chief operating officer, is responsible for Kohl’s full omnichannel operations. She oversees all store operations,
logistics and supply chain network, information and digital technology, e-commerce strategy, planning and operations, and
store construction and design.
Chawla joined Kohl’s in November 2015. Prior to joining Kohl’s, Chawla spent seven years with Walgreens in a variety
of senior leadership roles including president of e-commerce. Most recently, Chawla was president of digital and chief
marketing officer. She has also held executive positions with Dell, Inc. and Wells Fargo’s Internet Services Group. Chawla
also worked at Andersen Consulting and Mitchell Madison Group.
MICHELLE GASS
Chief Merchandising and Customer Officer
Michelle Gass, chief merchandising and customer officer, is responsible for all of Kohl’s merchandising, planning and allocation,
and product development functions as well as the company’s overall customer engagement strategy, including marketing,
public relations, social media and philanthropic efforts.
Gass joined Kohl’s in 2013 as chief customer officer and was named chief merchandising and customer officer in 2015.
Prior to joining Kohl’s, Gass spent more than 16 years with Starbucks Corporation holding a variety of leadership roles across
marketing, global strategy and merchandising. In her most recent role, she served as president, Starbucks Europe, Middle East,
and Africa, overseeing and growing the company’s 1,900 owned and licensed store operations across the region.
WESLEY MCDONALD
Chief Financial Officer
Wesley McDonald, chief financial officer, oversees Kohl’s financial planning and analysis, investor relations, financial
reporting, accounting operations, tax, treasury, non-merchandise purchasing, credit, and capital investment strategies.
McDonald joined Kohl’s in 2003 as executive vice president, chief financial officer and was promoted to senior executive
vice president, chief financial officer in 2010. Over the last 13 years, he has been instrumental in leading Kohl’s financial
portfolio and delivering dividends to shareholders. He was promoted to the principal officer position of chief financial
officer in 2015. Prior to joining Kohl’s, McDonald, a 26-year retail industry veteran, was chief financial officer with
Abercrombie & Fitch and held leadership positions with Target Corporation.
RICHARD SCHEPP
Chief Administrative Officer
Richard Schepp, chief administrative officer, oversees Kohl’s human resources, legal, risk management and compliance,
real estate and business development functions.
Schepp joined Kohl’s in 2000 as senior vice president, general counsel/secretary. He was promoted to executive vice
president in 2001 and senior executive vice president in 2011. In 2013, he became senior excutive vice president, human
resources, general counsel/secretary. He was promoted to the principal officer position of chief administrative officer in
2015. Prior to joining Kohl’s, Schepp, a 23-year retail veteran, served as senior vice president, general counsel/secretary
for Shopko. He began his career as an attorney for Quarles & Brady, LLP.
20 INVESTOR RELATIONS | N56 W17000 RIDGEWOOD DRIVE | MENOMONEE FALLS, WISCONSIN 53051 | 262.703.1440
BOARD OF DIRECTORS
Kevin Mansell
John E. Schlifske (a)(c)
Chairman, Chief Executive Officer and President
Chairman and Chief Executive Officer
Kohl’s Corporation
Northwestern Mutual Life Insurance Company
Peter Boneparth (b)(c)
Frank V. Sica (b*)(c)
Former Senior Advisor
Managing Partner
Irving Capital Partners
Tailwind Capital
Former President and Chief Executive Officer
Jones Apparel Group
Steven A. Burd (b)(c)
Stephanie A. Streeter (a)(c*)
Former Chief Executive Officer and Director
Libbey, Inc
Founder and Chief Executive Officer
Burd Health LLC
Former Chairman, Chief Executive Officer and President
Safeway Inc.
Dale E. Jones (b)(c)
Chief Executive Officer and President,
Diversified Search
Jonas Prising (c)
Nina G. Vaca (a)(c)
Pinnacle Technical Resources, Inc.
Stephen E. Watson (a*)(c)
Former President and Chief Executive Officer
Gander Mountain, L.L.C.
Former Chairman, Chief Executive Officer, and President
Department Store Division of Dayton-Hudson Corporation
ManpowerGroup
(a)
Audit Committee member
(b)
Compensation Committee member
(c)
Governance & Nominating Committee member
*
Denotes Chair
21
CORPORATE INFORMATION
Exchange/Symbol
Kohl’s Corporation common stock is traded on the New York Stock Exchange under the symbol KSS.
Standard & Poors
Kohl’s Corporation is an S&P Fortune 500 company.
SIC Code
5310
Independent Auditors
Ernst & Young LLP
Milwaukee, Wisconsin
Transfer Agent and Registrar
To change the name or address on stock certificates* contact:
Wells Fargo Shareowner Services
P.O. Box 64874
St. Paul, MN 55164-0856
Telephone: (800) 468-9716
*Kohl’s associates (current or former) should contact Human Resources to make changes to stock certificates
Corporate Headquarters
Kohl’s Department Stores
N56 W17000 Ridgewood Drive
Menomonee Falls, WI 53051
Phone: (262) 703-7000
Investor Information/Annual and Quarterly Reports
For quarterly earnings reports, our periodic filings with the SEC and other investor information,
please visit our Web site at www.KohlsCorporation.com or direct your inquiries to Investor Relations
Contacts
Investor Relations
Media Relations
Phone: (262) 703-1440
Phone: (262) 703-7000
E-mail: Investor.Relations@Kohls.com
Upcoming Events
For a listing of upcoming events, including earnings releases and our Annual Meeting of Shareholders,
please visit our Web site at www.KohlsCorporation.com
22 INVESTOR RELATIONS | N56 W17000 RIDGEWOOD DRIVE | MENOMONEE FALLS, WISCONSIN 53051 | 262.703.1440
Kohl’s Department Stores
N56 W17000 Ridgewood Drive
Menomonee Falls, WI 53051
Phone: (262) 703-7000
www.KohlsCorporation.com

Kohls Q1 2016 Fact Book

Transcription

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