Kohl's Corp. Files 10-K for Fiscal Year Ended February 3, 2024

Ticker: KSS · Form: 10-K · Filed: Mar 21, 2024 · CIK: 885639

Sentiment: neutral

Topics: 10-K, Kohl's, Retail, Financial Report, Fiscal Year End

TL;DR

<b>Kohl's Corp. filed its 2023 10-K, detailing financial performance and key business elements.</b>

AI Summary

KOHLS Corp (KSS) filed a Annual Report (10-K) with the SEC on March 21, 2024. Kohl's Corporation filed its annual 10-K report for the fiscal year ended February 3, 2024. The filing details financial performance and business operations for the period. Key financial instruments and agreements are referenced, including Senior Notes and Revolving Credit Facilities. The report covers various asset and liability categories, such as Property, Plant, and Equipment Net, and Finance Lease Obligations. Specific product categories like Footwear, Home, and Accessories are mentioned in relation to financial reporting periods.

Why It Matters

For investors and stakeholders tracking KOHLS Corp, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Kohl's financial health and strategic positioning for investors and analysts. Understanding the details within this report is crucial for assessing the company's performance, risks, and future outlook in the retail sector.

Risk Assessment

Risk Level: medium — KOHLS Corp shows moderate risk based on this filing. The company's financial performance and strategic initiatives are subject to the dynamic and competitive retail market, which can impact revenue and profitability.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to assess Kohl's performance and future prospects.

Key Numbers

Key Players & Entities

FAQ

When did KOHLS Corp file this 10-K?

KOHLS Corp filed this Annual Report (10-K) with the SEC on March 21, 2024.

What is a 10-K filing?

A 10-K is a comprehensive annual financial report required by the SEC, covering audited financials, business operations, risk factors, and management discussion. This particular 10-K was filed by KOHLS Corp (KSS).

Where can I read the original 10-K filing from KOHLS Corp?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by KOHLS Corp.

What are the key takeaways from KOHLS Corp's 10-K?

KOHLS Corp filed this 10-K on March 21, 2024. Key takeaways: Kohl's Corporation filed its annual 10-K report for the fiscal year ended February 3, 2024.. The filing details financial performance and business operations for the period.. Key financial instruments and agreements are referenced, including Senior Notes and Revolving Credit Facilities..

Is KOHLS Corp a risky investment based on this filing?

Based on this 10-K, KOHLS Corp presents a moderate-risk profile. The company's financial performance and strategic initiatives are subject to the dynamic and competitive retail market, which can impact revenue and profitability.

What should investors do after reading KOHLS Corp's 10-K?

Investors should review the detailed financial statements and risk factors in the 10-K to assess Kohl's performance and future prospects. The overall sentiment from this filing is neutral.

How does KOHLS Corp compare to its industry peers?

Kohl's operates in the highly competitive department store sector of the retail industry, facing challenges from e-commerce growth and changing consumer preferences.

Are there regulatory concerns for KOHLS Corp?

The filing adheres to SEC regulations for annual reports (10-K), providing standardized financial and operational disclosures.

Risk Factors

Industry Context

Kohl's operates in the highly competitive department store sector of the retail industry, facing challenges from e-commerce growth and changing consumer preferences.

Regulatory Implications

The filing adheres to SEC regulations for annual reports (10-K), providing standardized financial and operational disclosures.

What Investors Should Do

  1. Analyze the detailed financial statements for revenue trends, profitability, and cash flow.
  2. Review the risk factors section to understand potential challenges and management's mitigation strategies.
  3. Compare key performance indicators with industry benchmarks and historical company performance.

Key Dates

Year-Over-Year Comparison

This 10-K filing covers the fiscal year ending February 3, 2024, providing updated financial and operational data compared to previous filings.

Filing Stats: 4,374 words · 17 min read · ~15 pages · Grade level 14.3 · Accepted 2024-03-21 16:10:37

Filing Documents

Business

Business 3 Item 1A.

Risk Factors

Risk Factors 7 Item 1B. Unresolved Staff Comments 14 Item 1C. Cybersecurity 14 Item 2.

Properties

Properties 16 Item 3.

Legal Proceedings

Legal Proceedings 17 Item 4. Mine Safety Disclosures 17 Item 4A. Information about Our Executive Officers 17 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities 19 Item 6. Reserved 20 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 21 Item 7A.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 34 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 35 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosures 58 Item 9A.

Controls and Procedures

Controls and Procedures 58 Item 9B. Other Information 60 Item 9C. Disclosure Regarding Foreign Jurisdictions That Prevent Inspections 60 PART III Item 10. Directors, Executive Officers, and Corporate Governance 61 Item 11.

Executive Compensation

Executive Compensation 61 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 61 Item 13. Certain Relationships and Related Transactions, and Director Independence 61 Item 14. Principal Accounting Fees and Services 61 PART IV Item 15. Exhibits and Financial Statement Schedules 62 Item 16. Form 10-K Summary 64

SIGNATURES

SIGNATURES 65 Table of Contents PA RT I

B usiness

Item 1. B usiness Kohl's Corporation (the "Company," "Kohl's," "we," "our," or "us") was organized in 1988 and is a Wisconsin corporation. As of February 3, 2024, we operated 1,174 Kohl's stores and a website (www.Kohls.com). Our Kohl's stores and website sell moderately-priced private and national brand apparel, footwear, accessories, beauty, and home products. Our Kohl's stores generally carry a consistent merchandise assortment with some differences attributable to local preferences, store size, and Sephora at Kohl's shop-in-shops ("Sephora shops"). Our website includes merchandise which is available in our stores, as well as merchandise that is available only online. Our merchandise mix includes both national brands and private brands that are available only at Kohl's. Our private portfolio includes well-known established brands such as Croft & Barrow, Jumping Beans, SO, Sonoma Goods for Life, and Tek Gear, and exclusive brands that are developed and marketed through agreements with nationally-recognized brands such as Food Network, LC Lauren Conrad, Nine West, and Simply Vera Vera Wang. Compared to national brands, private brands generally have lower selling prices, but higher gross margins. The following tables summarize our net sales penetration by line of business and brand type over the last three years: Our fiscal year ends on the Saturday closest to January 31 st each year. Unless otherwise stated, references to years in this report relate to fiscal years rather than to calendar years. The following fiscal periods are presented in this report: Fiscal Year Ended Number of Weeks 2023 February 3, 2024 53 2022 January 28, 2023 52 2021 January 29, 2022 52 For discussion of our financial results, see Item 7, "Management's Discussion and Analysis of Financial Condition and Results of Operations." 3 Table of Contents Distribution We receive substantially all of our merchandise at our nine retail distribution centers and s

Ri sk Factors

Item 1A. Ri sk Factors This Form 10-K contains "forward-looking statements" made within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "believes," "anticipates," "plans," "may," "intends," "will," "should," "expects," and similar expressions are intended to identify forward-looking statements. Forward-looking statements include the statements under management's discussion and analysis, financial and capital outlook and may include comments about our future sales or financial performance and our plans, performance and other objectives, expectations or intentions, such as statements regarding our liquidity, debt service requirements, planned capital expenditures, future store initiatives, and adequacy of capital resources and reserves. Forward-looking statements are based on management's then current views and assumptions and, as a result, are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. As such, forward-looking statements are qualified by those risk factors described below. Forward-looking statements relate to the date made, and we undertake no obligation to update them. Our sales, revenues, gross margin, expenses, and operating results could be negatively impacted by a number of factors including, but not limited to those described below. Many of these risk factors are outside of our control. If we are not successful in managing these risks, they could have a negative impact on our sales, revenues, gross margin, expenses, and/or operating results. Macroeconomic and Industry Risks General economic conditions, consumer spending levels, and/or other conditions could decline. Consumer spending habits, including spending for the merchandise that we sell, are affected by many factors including prevailing economic conditions, inflation and measures to control inflation, consumer responses to recessionary concerns, levels of employment, salaries and wage ra

View Full Filing

View this 10-K filing on SEC EDGAR

View on Read The Filing