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):  September 20, 2007

KOHL’S CORPORATION

(Exact name of registrant as specified in its charter)

Wisconsin	1-11084	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:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01.  Other Events.

On September 20, 2007, Kohl’s announced that its Board of Directors had approved a stock repurchase program authorizing the Company to repurchase up to $2.5 billion of its common stock.  A copy of the press release is attached as Exhibit 99.1 to this report and is incorporated herein by reference.

Item 9.01.  Financial Statements and Exhibits.

(d)

Exhibits

Exhibit No.	Description
99.1	Press Release, dated September 20, 2007.

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:  September 20, 2007

KOHL’S CORPORATION

By:

s/ Richard D. Schepp                                

Richard D. Schepp

Executive Vice President

General Counsel and Secretary

EXHIBIT INDEX

Exhibit No.	Description
99.1	Press Release dated September 20, 2007

EX-99.1

Exhibit 99.1

National & Retail Trades and First Call

For release: September 20, 2007 at 8:30 AM (ET)

KOHL'S BOARD OF DIRECTORS AUTHORIZES $2.5 BILLION SHARE
REPURCHASE PROGRAM

MENOMONEE FALLS, Wis., -- (Business Wire) – September 20, 2007 -- Kohl’s Corporation (NYSE: KSS) reported today its board of directors has authorized a $2.5 billion share repurchase program.  The Company expects to execute this share repurchase program primarily in open market transactions, subject to market conditions, and expects to complete the program over the next three years.  Funding for the new program will be from operating cash flow as well as incremental debt financing.  

Management and the board of directors have conducted a thorough review of the capital structure and have concluded that BBB+/Baa1 is the appropriate long-term rating target for the Company.  As part of its long-term philosophy, Kohl’s is committed to these ratings which help the Company achieve its goals of lowering its cost of capital while preserving a strong balance sheet -  factors that are critical to the pursuit of the Company’s business objectives.

Larry Montgomery, Kohl’s chairman and chief executive officer, commented, “The share repurchase program reflects our strong balance sheet, confidence in our long-term growth and our commitment to returning value to shareholders.  We look forward to updating the investment community on our future plans at our upcoming investor conference on October 2, in Indianapolis.”

Investor Conference

The Company will host an investor conference in Indianapolis, Indiana, on October 2, 2007, with a management presentation scheduled for approximately 12:30 PM (ET).  If you are interested in attending and have not received an invitation, please send an e-mail to AnalystConf07Indy@kohls.com to request additional information.

Investors will have the opportunity to listen to the live web cast of the presentation through the Company's web site located at http://www.kohls.com (Select “Investor Relations”/ “Company News”/Scroll down to October 2007), or through Premiere Global Services' web site located at http://kohls.acrobat.com/analystconference.

To view/listen to the presentation, please run a systems test prior to the meeting at https://admin.acrobat.com/common/help/en/support/meeting_test.htm.  If you choose to listen to the streamed event through your pc versus the audio dial-in, your pc speakers must be turned on.  For those who cannot listen to the live broadcast, a replay will be available through November 2, 2007. To listen to the audio replay, dial (888) 203-1112 and enter pass code 4856498.  To archive the web cast replay, please visit the investor relations area of Kohl’s web site, available 36 hours after the live broadcast.

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, including guidance on the Company’s targeted sales and earnings.  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 fili ngs with the SEC.

About Kohl’s

Based in Menomonee Falls, Wis., Kohl’s (NYSE: KSS) is a family-focused, value-oriented specialty department store offering moderately priced, exclusive and national brand apparel, shoes, accessories, beauty and home products in an exciting shopping environment. A company committed to the communities it serves, Kohl’s operates 834 stores in 46 states and has raised more than $85 million for children’s initiatives nationwide through its Kohl’s Cares for Kids® philanthropic program.  For a list of store locations and information, or for the added convenience of shopping online, visit www.kohls.com.

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

Media:  Vicki Shamion, Vice President – Public Relations, (262) 703-1464