Kohl's Celebrates Largest One Day Grand Opening in Company History with 65 New Stores Throughout the U.S.
October 04 2006 - 1:30PM
PR Newswire (US)
-- New Store Design Focused on Enhanced Customer Shopping
Experience MENOMONEE FALLS, Wis., Oct. 4 /PRNewswire-FirstCall/ --
Kohl's Corporation (NYSE:KSS) today announced its largest fall
grand opening schedule in the company's history with 65 new stores
opening across the country tomorrow and three more opening next
month. Part of a five-year strategic growth plan that includes
store expansion, differentiation in marketing and merchandising
initiatives, the 68 new locations continue to build to the
company's goal of operating more than 1,200 stores by the end of
2010. "Tomorrow's nationwide grand opening of 65 new stores is the
largest one-day opening in our history and it continues to
demonstrate the success of our growth strategy," said Larry
Montgomery, Kohl's chairman and chief executive officer. "We are
well-positioned to continue to execute our five-year strategic
growth plan. We have a strong, growing base of stores across the
country, and there are many more markets where we can expand." New
Stores Delivering on the Customer Shopping Experience Of the 68 new
Kohl's stores opening this fall, the majority reflect a new store
design aimed squarely at broadening customer appeal and reach
through an enhanced shopping experience. A few of the newly
designed store's interior amenities include new merchandise
displays to highlight the latest fashion trends, directional
signing, spacious fitting rooms with lounge areas, updated
restrooms, as well as redesigned customer service and checkout
stations. An innovative exterior welcomes customers with glass
storefront entrances with impressive showcase windows, outdoor
seating and music. A list of new store design elements follows: --
Glass storefront entrances with showcase windows displaying the
latest Kohl's fashions -- Canopy to shelter customers from the
weather -- Zero-grade curbs for easy entrance to and from the store
-- New merchandise displays to highlight the newest trends and
complete styling in fashion and home -- Directional signing
throughout the store -- Higher ceilings creating a more open,
spacious environment -- Redesigned customer check out focused on
efficiency and customer interaction -- Updated fitting rooms and
lounge area for enhanced comfort and convenience -- Updated
restrooms -- Exciting graphics package and focal walls "The new
store design integrates comfort and convenience for today's
customer shopping experience," said Kevin Mansell, Kohl's
president. "This is another way we continue to differentiate the
Kohl's brand, and is an important step toward our strategy of
growing market share." Metro areas with the new prototype stores
include; Tampa, Fla., Boston, Mass., Dayton, Ohio, Minneapolis,
Minn., Las Vegas, Nev., Los Angeles, Calif., and many others
throughout the country. Visit http://www.kohls.com/ for a list of
all new store openings and to find your nearest Kohl's store.
Growth Delivering on our Strategic Growth Plan In a presentation to
analysts today in Florida, Kohl's outlined its long term growth
plan. As evidenced by record-setting financial performance in 2005
and an even stronger year-to-date performance in 2006, the company
has great confidence in its aggressive expansion and growth
strategy that has been proven successful over time. Kohl's will
continue to expand aggressively and plans to open approximately 415
stores nationwide over the next four years, bringing thousands of
new jobs to communities across the U.S. By 2010, the company
expects sales of $24 billion, and net income of approximately $1.9
billion, implying an operating margin of approximately 12.5 percent
in 2010. About Kohl's Based in Menomonee Falls, Wis., Kohl's 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 2006, Kohl's will operate 817 stores in
45 states. For a list of store locations and information, or for
the added convenience of shopping online, visit Kohl's Web site at
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, including guidance on the Company's targeted
sales and earnings. 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 on Exhibit 99.1 to 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. DATASOURCE: Kohl's Corporation CONTACT: Vicki
Shamion of Kohl's Corporation, +1-262-703-1464 Web site:
http://www.kohls.com/
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