• Like Target, but with a stronger emphasis on apparel and home goods, known for frequent sales and 'Kohl's Cash'.
• A more modern and value-focused JCPenney, often found in suburban strip malls rather than traditional enclosed malls.

Kohl's (KSS) primarily offers a range of physical products across various categories:

• Apparel: Includes clothing for women, men, and children, covering a wide array of styles and occasions.
• Footwear: Consists of shoes, boots, and sandals for the entire family, spanning athletic, casual, and formal wear.
• Accessories: Encompasses jewelry, handbags, scarves, hats, and other items designed to complement outfits.
• Home Goods: Features items like bedding, bath products, kitchenware, small appliances, and decorative home accents.
• Beauty and Fragrances: Offers cosmetics, skincare products, and perfumes from various brands.
• Toys: Provides a selection of playthings for children, including educational and entertainment items.

Kohl's (symbol: KSS) primarily sells directly to individual consumers through its department stores and e-commerce platform, making it a B2C (Business-to-Consumer) company. Therefore, it does not have major corporate customers.

Based on its product offerings and marketing strategies, Kohl's serves the following categories of individual customers:

1. Value-Conscious Shoppers: These customers are highly motivated by promotions, sales events, and loyalty programs like Kohl's Cash. They actively seek discounts and aim to maximize their savings on apparel, home goods, and other merchandise. This segment often comprises middle-income individuals and families looking for quality products at affordable prices.
2. Family & Home Shoppers: This category includes individuals, often parents or heads of households, who shop for a broad range of products for their entire family and home. They purchase children's clothing, men's and women's apparel, home decor, kitchenware, and small appliances, appreciating Kohl's diverse selection and the convenience of a one-stop shopping experience for household needs.
3. Everyday & Casual Apparel Shoppers: These customers frequent Kohl's for their daily wardrobe needs, focusing on comfortable, practical, and accessible fashion. They seek out casual wear, activewear, and basic apparel for themselves and their families, appreciating Kohl's regular sales and assortment of brands that cater to an everyday, active lifestyle.

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Michael Bender Interim Chief Executive Officer Michael Bender was appointed Interim CEO of Kohl's in May 2025. He has also served as an Independent Chairman since May 2024 until May 2025 and as a Director since July 2019. Prior to his current role, Bender was appointed interim CEO after the firing of Ashley Buchanan. Jill Timm Chief Financial Officer Jill Timm is the Chief Financial Officer for Kohl's, a position she assumed in November 2019. She is responsible for financial planning and analysis, investor relations, financial reporting, accounting operations, tax, treasury, and corporate strategy. Timm joined Kohl's in 1999 and has held various progressive leadership roles within the finance department, including Executive Vice President of Finance. Before joining Kohl's, she was a senior auditor at Arthur Andersen LLP. Timm has nearly 30 years of experience in finance and corporate leadership. She also serves as an independent director on the Molson Coors Beverage Company Board of Directors, a position she was nominated for in December 2023. Nick Jones Chief Merchandising and Digital Officer Nick Jones was named Kohl's Chief Merchandising and Digital Officer, effective March 2023, reporting directly to CEO Tom Kingsbury at the time of his appointment. He is responsible for the company's overall merchandise strategy and all merchandising functions, including buying, digital and omnichannel merchandising, product design and development, and product portfolio strategy. Jones brings over 25 years of merchandising, brand, retail, and leadership experience. Most recently, he served as CEO of Joules Group, a British lifestyle brand. Before that, he spent nearly ten years at ASDA/Walmart UK, where he managed the George brand and served as chief merchant for ASDA/Walmart UK. He also held various business and merchandise leadership positions during his 15 years at Marks & Spencer. Steven Dee Chief Technology Officer Steven Dee was appointed Chief Technology Officer of Kohl's, effective August 25, 2025, reporting directly to interim CEO Michael Bender. In this role, he leads all technology and information platforms that support Kohl's omnichannel operations and broader business strategy. Dee has over 25 years of experience in driving large-scale digital transformation and operational excellence across leading consumer brands. Prior to Kohl's, he was the Global Chief Information and Technology Officer at Rodan + Fields. He also held senior technology leadership roles at Nike, where he oversaw global sales and digital commerce platforms, and served as CIO/CTO at Hayneedle and J.Crew. He began his career at Accenture, spending 12 years leading major retail and consumer goods clients through enterprise transformation. Christie Raymond Chief Marketing Officer Christie Raymond serves as the Chief Marketing Officer for Kohl's. She is responsible for the company's marketing efforts.

The emergence and rapid growth of ultra-fast fashion and hyper-value e-commerce retailers, such as Shein and Temu, which offer extremely low prices and rapid trend cycles through direct-from-manufacturer models, challenging traditional retail's value proposition and speed to market.

Kohl's (symbol: KSS) operates primarily within the United States, and its main product and service categories include apparel, footwear, home products, and beauty products. The addressable market sizes for these categories in the U.S. are as follows:

• Apparel: The United States apparel market reached an estimated value of nearly USD 353.20 billion in 2024. This market is projected to grow to approximately USD 447.73 billion by 2034, with a compound annual growth rate (CAGR) of 2.40% during the forecast period of 2025-2034. Other estimates indicate the U.S. apparel market size was $353 billion in 2021 and is projected to be $365.70 billion in 2025.
• Footwear: The U.S. footwear market size was approximately USD 97.72 billion in 2024 and is estimated to reach around USD 141.89 billion by 2034, growing at a CAGR of 3.80% from 2025-2034. Other reports show the market at USD 94.7 billion in 2024, expected to reach USD 119.0 billion by 2033, and USD 95.1 billion in 2024, projected to reach USD 125.7 billion by 2032.
• Home Products (Home Decor): The U.S. home decor market generated an estimated revenue of USD 237.87 billion in 2024 and is expected to reach USD 392.56 billion by 2030, with a CAGR of 8.9% from 2025-2030. Another source indicates the market size was approximately USD 180.62 billion in 2024, projected to grow to about USD 283.19 billion by 2034.
• Beauty Products: The U.S. beauty and personal care products market size was estimated at USD 102.73 billion in 2024 and is anticipated to reach USD 155.44 billion by 2030, with a CAGR of 7.1% from 2025-2030. A more focused segment, the United States cosmetics market, was valued at USD 20.3 billion in 2024 and is estimated to reach USD 26.7 billion by 2033.

• Expansion of the Sephora Partnership: Kohl's aims to grow its Sephora beauty business to $2 billion by 2025, expanding its presence to more than 850 stores. This partnership is a significant catalyst for attracting new customers and enhancing the overall shopping experience.
• Opening of New, Smaller-Format Stores: The company plans to open over 100 new, smaller-format Kohl's stores in the next four years. This strategy allows Kohl's to penetrate previously untapped markets and increase its physical footprint.
• Growth of the Digital Business and Omnichannel Capabilities: Kohl's is committed to expanding its digital business, with a goal of reaching $8 billion, by enhancing Kohls.com and rolling out self-serve omnichannel features like buy online, pick up in store, and self-serve returns. These efforts are designed to improve discovery, shopability, and convenience for customers.
• Strategic Focus on Key Product Categories: Kohl's is emphasizing growth in specific product categories, including home goods, gifting, and impulse purchases, and is enhancing its trend merchandise, particularly in junior and women's apparel. The company is investing in new vendor relationships and expanded assortments to boost sales in these areas.
• Enhancement of Customer Experience and Simplification of Value Strategies: Improving the overall customer experience and streamlining its value propositions, such as Kohl's Cash, are key priorities. These initiatives aim to attract and retain customers by offering a more engaging and less confusing shopping journey, ultimately driving increased traffic and conversion.

Share Repurchases

• Kohl's suspended its share repurchase program in the second quarter of 2020 due to COVID-19.
• In 2021, Kohl's repurchased approximately $1.3 billion of stock, expanding from an initial plan of $300 million to $2 billion for the year.
• Kohl's buyback yield for fiscal years ending January 2021 to 2025 averaged 7.5%, with a peak of 19.0% in January 2023.

Inbound Investments

• In January 2022, Kohl's confirmed receiving takeover proposals, including offers of $64 per share from Acacia Research (backed by Starboard Value) and "at least $65 per share" from Sycamore Partners.
• Kohl's entered exclusive talks with Franchise Group for a potential acquisition at an estimated $8 billion, or $60 per share, which was to be partly funded through Kohl's real estate portfolio.
• Activist investors, including Macellum Capital and Engine Capital, publicly pressured Kohl's to consider a sale of the business.

Capital Expenditures

• Kohl's decreased its planned capital expenditures by approximately $500 million in 2020 in response to COVID-19, with actual capital expenditures for the year at $137 million.
• Capital expenditures were $570 million in 2021, $783 million in 2022, $551 million in 2023, and $460 million in 2024.
• For fiscal year 2025, capital expenditures are projected to be in the range of $400 million to $425 million, with a focus on the Sephora rollout, Impulse Q line expansion, and enhancements to e-commerce fulfillment centers.