Kohl's 2014 Annual Report Download - page 3

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Table of Contents
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Kohl’s Corporation (the “Company” or “Kohl’s”) was organized in 1988 and is a Wisconsin corporation. As of January 31, 2015, we operated 1,162
department stores in 49 states and an E-Commerce website (www.Kohls.com). We sell moderately-priced private label, exclusive and national brand apparel,
footwear, accessories, beauty and home products. Our stores generally carry a consistent merchandise assortment with some differences attributable to
regional preferences. Our website includes merchandise which is available in our stores, as well as merchandise which is available only on-line.
Our fiscal year ends on the Saturday closest to January 31st 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.
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2014 January 31, 2015
52
2013 February 1, 2014
52
2012 February 2, 2013
53
As reflected in the charts below, our merchandise mix by line of business has remained consistent over the last three years.
Our strategic framework, which we refer to as "The Greatness Agenda," is built on five pillars - amazing product, incredible savings, easy experience,
personalized connections and winning teams.
Amazing product provides a renewed focus on providing the right merchandise mix, being locally relevant and tailoring products to every customer
across every shopping channel. We strive to offer the appropriate balance between the fashion that our customers want and the everyday basics that they
need.
Our merchandise mix includes both national brands and private and exclusive brands which are available only at Kohl's. In 2014, we continued our
emphasis on national brands as we believe they drive customer traffic and sales increases. National brands generally have higher selling prices than private
and exclusive brands.
Most of our private brands are well-known established brands such as Apt. 9, Croft & Barrow, Jumping Beans, SO and Sonoma Life + Style. Selling
prices for our private brands are generally lower than exclusive and national brands.
Exclusive brands are developed and marketed through agreements with nationally-recognized brands. Examples of our exclusive brands include Food
Network, Jennifer Lopez, Marc Anthony, Rock & Republic and Simply Vera Vera Wang. Exclusive brands have selling prices which are generally lower than
national brands, but higher than private brands.
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