Kohl's 2010 Annual Report Download - page 18

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Table of Contents

The graph below compares our cumulative five-year stockholder return to that of the Standard & Poor’s 500 Index and the S&P 500 Department Stores
Index. The S&P 500 Department Stores Index was calculated by Capital IQ, a Standard & Poor’s business and includes Kohl’s; JCPenney Company, Inc.;
Dillard’s, Inc.; Macy’s, Inc.; Nordstrom Inc.; and Sears Holding Corporation. The graph assumes investment of $100 on January 28, 2006 and reinvestment
of dividends. The calculations exclude trading commissions and taxes.
     
 $100.00 $165.50 $103.91 $83.05 $113.96 $115.84
 100.00 114.99 112.92 68.47 91.16 110.53
 100.00 143.82 91.83 43.38 72.51 83.17

We did not sell any equity securities during 2010 which were not registered under the Securities Act.

On November 17, 2010, we entered into an accelerated share repurchase transaction with Morgan Stanley & Co. Incorporated (“Morgan Stanley”) to
repurchase $1.0 billion of Kohl’s common stock on an accelerated basis. This accelerated share repurchase was part of the $2.5 billion share repurchase
program authorized by our Board of Directors in September 2007. On November 18, 2010, we paid $1.0 billion to Morgan Stanley from cash on hand. We
received 17.9 million shares of Kohl’s common stock during the fiscal year ended January 29, 2011. The final 900,000 shares due under the transaction were
received in March 2011.
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