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Kohl's Corporation Reports Third Quarter Financial Results

Dividend

On November 13, 2013, Kohl's Board of Directors declared a quarterly cash dividend on the Company's common stock of $0.35 per share. The dividend is payable December 24, 2013 to shareholders of record at the close of business on December 11, 2013.

Store Update

Kohl’s ended the quarter with 1,158 stores in 49 states, compared with 1,146 stores at the same time last year. The Company opened three new stores during the third quarter and nine new stores during the first quarter of 2013. Additionally, the Company remodeled 30 stores in 2013.

Earnings Guidance

The Company provided initial guidance for the fiscal quarter ending February 1, 2014 of $1.59 to $1.74 per diluted share. The guidance is based on total sales declines of 2 to 4 percent and comparable store sales declines of 0 to 2 percent. The Company also updated its annual earnings per share guidance from $4.15 - $4.35 to $4.08 to $4.23. The Company also announced that it will provide only annual guidance beginning in Fiscal 2014.

Third Quarter 2013 Earnings Conference Call

Kohl's will host its quarterly earnings conference call at 8:30 am ET on November 14, 2013. The phone number for the conference call is (706) 902-0486. Replays of the call will be available for 30 days by dialing (855) 859-2056 or (404) 537-3406. The conference ID for both the live call and the replay is 24984194. The conference call and replays are also accessible via the Company's web site at http://www.kohlscorporation.com/InvestorRelations/event-calendar.htm.

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 filings with the SEC.

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