Kohl's reports 2005 record earnings, outlines future plans
26 Apr '06
3 min read
Building on that momentum, the company plans to open 85 stores in fiscal 2006. This spring, the company opened 17 of the 85 stores, including entry into the Northwest, with four stores in Portland, OR. In the fall, the company plans to enter Seattle, WA.
For fiscal 2006, the company is planning 17 stores each in the Midwest and Southeast regions, 15 stores in the Southwest region, 11 stores in the South-central region, 10 stores in the Northwest, eight stores in the Mid-Atlantic region and seven stores in the Northeast region. The company believes that all regions have significant growth potential.
To support the expansion in the Southwest region as well as entry into the Pacific Northwest, the company will open a distribution facility (DC) in Patterson, CA in June 2006. The new DC will have the capacity to support 110 stores.
Kohl's shareholders reelected Jay Baker, Steven Burd, Kevin Mansell and Peter Sommerhauser to the board of directors for additional three-year terms, with each director receiving more than 88 percent of the votes cast.
Based in Menomonee Falls, Wis., Kohl's is a family-focused, value-oriented specialty department store offering moderately priced national and exclusive brand apparel, shoes, accessories, home and beauty products in an exciting shopping environment. It operates 749 stores in 43 states.
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