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KSS

Kohl's Corporation

KSS

Kohl's Corporation • NYSE
$24.59 ▲ 2.03% (+0.49)
Market Cap $2.76 B
52w High $24.91
52w Low $6.04
Dividend Yield 0.88%
P/E 14.21
Volume 5.12M
Outstanding Shares 112.07M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $3.575B ▲ $1.263B ▲ $8M ▼ 0.224% ▼ $0.08 ▼ $249M ▼
Q2-2025 $3.546B ▲ $1.256B ▼ $153M ▲ 4.315% ▲ $1.37 ▲ $454M ▲
Q1-2025 $3.233B ▼ $1.339B ▼ $-15M ▼ -0.464% ▼ $-0.13 ▼ $235M ▼
Q4-2024 $5.397B ▲ $1.539B ▲ $48M ▲ 0.889% ▲ $0.43 ▲ $309M ▲
Q3-2024 $3.71B $1.475B $22M 0.593% $0.2 $282M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $144M ▼ $14.144B ▲ $10.214B ▲ $3.93B ▲
Q2-2025 $174M ▲ $13.391B ▼ $9.464B ▼ $3.927B ▲
Q1-2025 $153M ▲ $13.639B ▲ $9.86B ▲ $3.779B ▼
Q4-2024 $134M ▼ $13.559B ▼ $9.757B ▼ $3.802B ▼
Q3-2024 $174M $15.054B $11.25B $3.804B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $8M ▼ $124M ▼ $-90M ▼ $-64M ▲ $-30M ▼ $88M ▼
Q2-2025 $154M ▲ $598M ▲ $-71M ▲ $-506M ▼ $21M ▲ $708M ▲
Q1-2025 $-15M ▼ $-92M ▼ $-108M ▼ $219M ▲ $19M ▲ $-202M ▼
Q4-2024 $48M ▲ $596M ▲ $-104M ▲ $-532M ▼ $-40M ▲ $497M ▲
Q3-2024 $22M $-195M $-126M $264M $-57M $-323M

Revenue by Products

Product Q3-2024Q4-2024Q1-2025Q2-2025
Product
Product
 $3.51Bn ▲$5.17Bn ▲$3.05Bn ▼$3.35Bn ▲
Product and Service Other
Product and Service Other
 $200.00M ▲$0 ▼$180.00M ▲$200.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Kohl’s income statement shows a business that bounced back strongly after the pandemic but has since been grinding through a tougher stretch. Sales recovered in 2021 and then have slipped each year, suggesting ongoing pressure from competition and softer demand. Profitability peaked in 2021 and has fallen sharply since then, leaving the company with only modest profits and very thin margins more recently. The core business is still generating earnings, but there is little cushion: small changes in traffic, pricing, or costs can have an outsized impact on the bottom line. Overall, the income statement reflects a mature retailer fighting to stabilize sales and protect margins in a challenging environment.

Balance Sheet

Balance Sheet The balance sheet looks serviceable but not especially comfortable. Overall assets have drifted slightly lower, and the cash balance has come down dramatically from earlier levels, leaving a relatively small cash buffer today. Debt remains sizable and has not been reduced in a meaningful way, while shareholders’ equity has trended downward. That combination implies higher financial leverage and less shock-absorbing capacity if conditions worsen. The company is not obviously overextended, but it has less balance sheet flexibility than it once did, and future downturns or missteps would be felt more quickly.

Cash Flow

Cash Flow Cash generation has been uneven but generally positive. Kohl’s produced very strong operating and free cash flow in 2021, then saw a sharp drop in 2022, partial recovery in 2023, and softer performance again most recently. Free cash flow has been positive in most years, even after steady investment in stores and technology, which is a key strength. However, the level of surplus cash is now much lower than during the rebound period, leaving less room to both invest aggressively and reduce debt or return capital. The pattern suggests a business that can still fund its needs internally but does not have a large margin for error.

Competitive Edge

Competitive Edge Kohl’s sits in a tough part of retail: mid-priced department store apparel and home, squeezed by online giants, off-price chains, and big-box retailers. Its main advantages are a large, convenient off‑mall store base, a well-known loyalty ecosystem built around Kohl’s Rewards and Kohl’s Cash, and several traffic-driving partnerships. The Sephora shop‑in‑shop concept is a clear bright spot, pulling in younger and more beauty-focused customers, while the Amazon returns program keeps a steady stream of visitors flowing through stores. Private and exclusive brands also help differentiate the assortment and support margins. Even so, declining sales and intense competition lead many observers to view the company as having only a modest or fragile moat; the partnerships need to keep performing to offset structural pressures in traditional department store retail.

Innovation and R&D

Innovation and R&D Innovation at Kohl’s is centered on partnerships, store formats, and technology modernization rather than classic research and development. The company is moving its store systems to a cloud‑based, “lean store” model to operate more efficiently and roll out new features faster. Its app and omnichannel capabilities are being upgraded, and it has experimented with artificial intelligence for inventory and customer service, though it appears to be catching up rather than leading on cutting‑edge tools like advanced inventory tracking. Strategically, the Sephora and Babies R Us shop‑in‑shop concepts, smaller-format stores, expanded home and activewear offerings, and a refreshed brand platform all represent attempts to reinvent the in‑store experience and better match current consumer tastes. The opportunity is meaningful, but success depends on consistent execution and measurable improvement in traffic, conversion, and inventory productivity.

Summary

Kohl’s today looks like a retailer in the middle of a difficult but deliberate transformation. Financially, sales and margins have come off their post‑pandemic highs and remain under pressure, leaving the company only modestly profitable and more financially leveraged than in the past, with a thinner cash cushion. At the same time, the business still generates positive free cash flow in most years and continues to invest in stores, technology, and brand partnerships. Strategically, the core question is whether initiatives like Sephora at Kohl’s, Babies R Us shop‑in‑shops, smaller formats, and digital enhancements can stabilize or grow traffic enough to offset broader headwinds in the department store space. The path forward hinges on reversing sales erosion, improving inventory and cost efficiency, and gradually rebuilding financial flexibility while maintaining the appeal of its loyalty and partnership ecosystem.

NEWS

November 25, 2025 · 7:00 AM UTC

Kohl's Reports Third Quarter Fiscal 2025 Financial Results

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November 24, 2025 · 9:00 AM UTC

Kohl's Appoints Michael J. Bender as Chief Executive Officer

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November 12, 2025 · 4:15 PM UTC

Kohl's Corporation Declares Quarterly Dividend

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November 7, 2025 · 8:00 AM UTC

Shop Early, Save Big: Kohl's Black Friday Savings Start Now

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October 9, 2025 · 12:00 PM UTC

Kohl's Makes Gifting Easy, Joyful, and Affordable This Holiday Season

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