Profile: Kohl's Corp (KSS)
19 Dec 2014
Kohl’s Corporation (Kohl’s), incorporated on March 23, 1993, operates family-oriented department stores that sell apparel, footwear and accessories for women, men and children; soft home products, such as sheets and pillows, and housewares. Kohl’s apparel and home fashions appeal to classic, modern classic and contemporary customers. As of January 28, 2012, the Company operated 1,127 stores in 49 states. In addition, Kohl’s offers on-line shopping on its Website at www.Kohls.com. Originally designed as an added service for customers who prefer to shop using the Internet, the Website include a selection of items and categories beyond what is available in stores, with a primary focus on sizes, product line extensions, and Web-exclusive product lines. Only at Kohl’s is a brand of the Company. In March 2012, the Company opened eight new stores. In March 2013, it announced the openings of nine new stores, bringing the Company's store count to 1,155 stores.
In February 2012, the Company launched Rock & Republic. Kohl’s is the United States retailer of Rock & Republic apparel, accessories and all other merchandise. In February 2012, the Company introduced Van Heusen for its men’s sportswear, dress shirt and accessories departments. In September 2011, the Company launched Jennifer Lopez and Marc Anthony. The Jennifer Lopez collection is in multiple departments, including women’s sportswear, dresses, handbags, jewelry, shoes, sleepwear, bedding and bath products. The Marc Anthony collection includes men’s apparel, sportswear, dress shirts, neckwear, suit separates, sport coats and shoes.
The Company’s typical, or prototype, store has approximately 88,000 gross square feet of retail space and serves trade areas of 150,000 to 200,000 people. Small stores are 55,000 to 68,000 square feet and serve trade areas of 100,000 to 150,000 people. Its urban stores are located in the New York and Chicago markets, serve populated areas of up to 500,000 people and average approximately 125,000 gross square feet of retail space. The Company’s typical lease has an initial term of 20-25 years and four to eight renewal options for consecutive five-year extension terms. Approximately one-fourth of the leases provide for additional rent based on a percentage of sales over designated levels.
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