Kohl's Corp. (KSS) said it plans to hire 1,200 new employees to
man nine new stores expected to open this spring amid expansion
plans that also call for renovating 100 stores nationwide.
Even as U.S. stocks have surged in recent months and corporate
profits have increased, many companies have been reluctant to
hire.
Overall, Kohl's expects to open about 40 new U.S. stores this
year, on top of renovations to 100 locations, up 18% from last
year. Kohl's has 29,000 employees.
The retailer of midprice apparel, accessories and home decor has
been benefiting from cost cuts and its expansion of its private
label and exclusive brands. The company last month projected 2011
earnings below Wall Street's view at the time, however.
The new stores opening this spring will be in Illinois, New
York, South Dakota, Texas, Virginia, Washington and Wisconsin.
Kohl's said it will operate 1,097 stores in 49 states by the end of
March.
Shares closed Tuesday at $54.23 and were inactive premarket. The
stock has gained 2.7% over the past month.
-By Drew FitzGerald, Dow Jones Newswires; 212-416-2909;
Andrew.FitzGerald@dowjones.com