Today Kohl’s Department Stores (NYSE:KSS) celebrates the opening of its 1,000th store, marking an important milestone in company history. The accomplishment is part of a 47-store expansion this fall which includes 45 stores that are built according to a design that is LEED (Leadership in Energy and Environmental Design) pre-certified at the Silver level from the U.S. Green Building Council.
“This is an exciting time for our company as we celebrate the opening of our 1,000th store and our green buildings,” said Kevin Mansell, Kohl’s President and Chief Executive Officer. “Despite a difficult economy, Kohl’s continues to grow with the addition of 47 new stores this fall and more than 6,000 new jobs. We are poised to continue introducing innovation through store design, store remodels, evolution of the in-store experience and delivery of world class brands at a great value – it’s a proven formula that contributes to our profitable growth over the long-term.”
Growth & Innovation
Among the stores opening this fall are Kohl’s first locations in Miami-Fort Lauderdale-West Palm Beach as well as the retailer’s entry into Montana, which marks the company’s 48th state. Of the 47 new stores, 46 will open October 1, followed by one opening in November. In the spring, Kohl’s opened 28 stores. In total, the retailer will open 75 stores in 2008, operating 1,004 stores in 48 states by the end of November.
The company is well-positioned to continue its expansion in new and existing markets. In 2009, Kohl’s plans to open approximately 50 new stores and remodel 60 locations, an increase from 36 remodeled stores in 2008. Despite a difficult economic environment, the company’s strong financial position allows for flexibility should additional real estate become available in the marketplace. Longer-term, the company has identified 1,400 trade areas where it sees potential for Kohl’s stores, but has not announced a timeline for future openings beyond 2009.
Kohl’s is continually assessing its store design with the goal of achieving customer satisfaction and operational excellence. In select stores nationwide, the company is currently testing redesigned Children’s and Footwear departments that include updated graphics, unique displays and impactful fixtures. In recent years, Kohl’s rolled out innovations in all new stores such as glass storefront entrances, spacious fitting rooms, and redesigned Juniors’, Jewelry and Intimates departments.
Kohl’s is also pursuing operational enhancements in its stores, many of which support the company’s green mission to be a leading environmentally responsible retailer. In addition to LEED pre-certification for the design of the new environmentally friendly stores, other recent green accomplishments for the company include:
- In July 2008, 50 Kohl's stores earned the Energy Star label for superior energy efficiency and environmental performance, marking the largest group of retail buildings to earn the label in Energy Star history. The program continues to grow, and as of September, more than 100 Kohl’s stores have been awarded the label.
- Kohl’s state-of-the-art photo studio, which opened in Milwaukee in January, was constructed using LEED criteria and is in pursuit of Gold certification.
- In its May issue, Working Mother Magazine recognized Kohl’s as one of the Best Green Companies for America’s Children.
- Kohl’s is the largest retail host of solar power – its distributed solar program, which spans six states, is the largest in the world among retailers.
- The EPA honored Kohl’s with a Green Power Leadership Award for being the No. 2 retail purchaser of renewable energy.
Kohl’s further differentiates itself in the marketplace by carrying quality national and exclusive brands at a value customers can appreciate. Kohl’s offers exclusive brands such as Simply Vera Vera Wang, Abbey Dawn, ELLE™, FILA SPORT® and Food Network™, and national brands including Levi’s®, Carter’s® and Cuisinart®. In spring 2009, Kohl’s will become the exclusive U.S. retailer for Dana Buchman women’s apparel, intimates, accessories and footwear.
For a list of store locations or for more information, visit www.kohls.com.
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. 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.
Kohl’s Department Stores
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. By the end of November, Kohl’s will operate 1,004 stores in 48 states. 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.
Editor’s Note:
Kohl’s fall grand opening B-roll package is available at: http://mnr.onthescene.com/Kohls/Kohls_Video_Fall2008.html
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Mary Ann Campbell,
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