0000885639-16-000028.txt : 20160204 0000885639-16-000028.hdr.sgml : 20160204 20160204084657 ACCESSION NUMBER: 0000885639-16-000028 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20160204 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20160204 DATE AS OF CHANGE: 20160204 FILER: COMPANY DATA: COMPANY CONFORMED NAME: KOHLS Corp CENTRAL INDEX KEY: 0000885639 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-DEPARTMENT STORES [5311] IRS NUMBER: 391630919 STATE OF INCORPORATION: WI FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-11084 FILM NUMBER: 161386924 BUSINESS ADDRESS: STREET 1: N56 W17000 RIDGEWOOD DR CITY: MENOMONEE FALLS STATE: WI ZIP: 53051 BUSINESS PHONE: 4147835800 MAIL ADDRESS: STREET 1: N54 W13600 WOODALE DR CITY: MENOMONEE FALLS STATE: WI ZIP: 53051 FORMER COMPANY: FORMER CONFORMED NAME: KOHLS CORPORATION DATE OF NAME CHANGE: 19930328 8-K 1 a8k-q42015salesrelease.htm FORM 8-K 8-K





UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT



Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  February 4, 2016

 
 
 
      Wisconsin      
  001-11084   
      39-1630919      
(State or other jurisdiction
 of incorporation)
(Commission
 File Number)
(IRS Employer
 Identification No.)

         N56 W17000 Ridgewood Drive
         Menomonee Falls, Wisconsin             
 
53051
(Address of principal executive offices)
 
(Zip Code)

Registrant's telephone number, including area code:  (262) 703-7000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
 
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
 
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
 
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
 
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))







Item 2.02.  Results of Operations and Financial Condition.

On February 4, 2016, Kohl's Corporation issued a press release providing fourth quarter comparable sales results, an update on fiscal 2015 operating performance and updated fiscal 2015 diluted earnings per share guidance. A copy of the press release is attached as Exhibit 99.1 and incorporated by reference herein.

The information in this Item 2.02, including the exhibit attached hereto, is furnished solely pursuant to Item 2.02 of Form 8-K. Consequently, such information is not deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liabilities of that section. Further, the information in this Item 2.02, including the exhibit, shall not be deemed to be incorporated by reference into the filings of the registrant under the Securities Act of 1933.

Item 7.01.  Regulation FD Disclosure.

See Item 2.02.


Cautionary Statement Regarding Forward-Looking Information

This current report on Form 8-K contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The Company intends forward-looking terminology such as "believes," "expects," "may," "will," "should," "anticipates," "plans," or similar expressions to identify forward-looking statements. Such statements are subject to certain risks and uncertainties, which could cause the Company's actual results to differ materially from those anticipated by the forward-looking statements. These risks and uncertainties include, but are not limited to, risks described more fully in Item 1A in the Company's Annual Report on Form 10-K, which is expressly incorporated herein by reference, and other factors as may periodically be described in the Company's filings with the SEC.







Item 9.01.  Financial Statements and Exhibits.

 
 
 
 
Exhibit No.
Description
 
 
 
 
99.1
Press Release dated February 4, 2016





SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
Dated:  February 4, 2016
KOHL'S CORPORATION


 
 
By:
/s/ Jason J. Kelroy
 
 
 
 
Jason J. Kelroy
 
 
 
 
Executive Vice President,
 
 
 
 
General Counsel and Secretary
 






EXHIBIT INDEX

 
 
Exhibit No.
Description
 
 
99.1
Press Release dated February 4, 2016



EX-99.1 2 q42015salesrelease.htm PRESS RELEASE DATED FEBRUARY 4, 2016 Exhibit


Kohl's Corporation Provides Fourth Quarter Financial Update
    
MENOMONEE FALLS, Wis.--(BUSINESS WIRE)-February 4, 2016 -- Kohl’s Corporation (NYSE:KSS) today reported fourth quarter comparable sales increased 0.4 percent and fiscal 2015 comparable sales increased 0.7 percent. Total sales increased 0.8 percent for the fourth quarter and 1.0 percent for fiscal 2015.

“While we experienced our fifth consecutive quarter of positive comparable sales increases, sales were very volatile and less than planned in the fourth quarter. We experienced a very strong holiday selling season from the week of Thanksgiving through Christmas. These results were offset by a very slow start to the quarter in early November and a weaker-than-expected January as soft demand for cold-weather goods led to lower store traffic in these more discretionary shopping periods.” said Kevin Mansell, Kohl's chairman, chief executive officer and president. 

“We were pleased with the performance of our digital business as online generated orders and sales each grew approximately 30 percent during the quarter. Our ability to provide both ship-from-store and buy online, pickup in store capabilities in all stores really resonated with our customer,” Mansell said.

From a line of business perspective, Footwear and Home were the strongest categories while Accessories was the weakest. On a regional basis, the West region was the strongest while the Mid-Atlantic and South Central regions were the most difficult.

Fourth Quarter Earnings Release and Conference Call
The Company will release its detailed report on the fourth quarter and fiscal 2015 at 7:00 am ET and host its quarterly earnings conference call at 8:30 am ET on February 25th, 2016. Additional details on the Company’s 2015 results and initial guidance for fiscal 2016 will be provided at that time.

Earnings Guidance
The Company now expects its fiscal 2015 diluted earnings per share to be $3.40 to $3.45. Excluding debt extinguishment losses recorded in prior quarters, fiscal 2015 diluted earnings per share is expected to be $3.95-$4.00, down from its previously stated guidance of toward the low end of $4.40 to $4.60 per diluted share.






The change in guidance is a result of lower than planned sales for the quarter and significantly lower than planned gross margin. Gross margin was affected by the origin and timing of the sales in addition to the competitive promotional environment which resulted in higher than expected markdowns on both year-round and seasonal merchandise.


Cautionary Statement Regarding Forward-Looking Information
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Kohl's intends forward-looking terminology such as “believes,” “expects,” “may,” “will,” “should,” “anticipates,” “plans,” or similar expressions to identify forward-looking statements. Such statements are subject to certain risks and uncertainties, which could cause Kohl's actual results to differ materially from those anticipated by the forward-looking statements. These risks and uncertainties include, but are not limited to, those described in Item 1A in Kohl's Annual Report on Form 10-K, which is expressly incorporated herein by reference, and other factors as may periodically be described in Kohl's filings with the SEC.


About Kohl's
Kohl’s (NYSE: KSS) is a leading specialty department store with 1,165 stores in 49 states. With a commitment to inspiring and empowering families to lead fulfilled lives, the company offers amazing national and exclusive brands, incredible savings and inspiring shopping experiences in-store, online at Kohls.com and via mobile devices.  Committed to its communities, Kohl’s has raised more than $274 million for children’s initiatives nationwide through its Kohl’s Cares® cause merchandise program, which operates under Kohl's Cares, LLC, a wholly-owned subsidiary of Kohl's Department Stores, Inc.  For additional information about Kohl’s philanthropic and environmental initiatives, visit www.Kohls.com/Cares.  For a list of store locations and information, or for the added convenience of shopping online, visit www.Kohls.com.

Connect with Kohl’s:
Facebook (http://www.facebook.com/Kohls)
Twitter (http://twitter.com/Kohls)
Google+ (http://plus.google.com/+Kohls)
Pinterest (http://pinterest.com/Kohls)
Instagram (http://instagram.com/Kohls)
YouTube (http://www.youtube.com/Kohls)

Contacts
Investor Relations:
Wes McDonald, Chief Financial Officer, (262) 703-1893

Media:
Bevin Bailis, SVP, PR and Communications, (262) 703-1464