$KSS

KOHLS Corp

CIK:0000885639|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 01, 2026	Aug. 02, 2025	Aug. 01, 2026	Aug. 02, 2025
Total revenue	$ 3,515	$ 3,546	$ 6,682	$ 6,779
Cost of merchandise sold	1,893	2,011	3,695	3,845
Operating expenses:
Selling, general, and administrative	1,188	1,199	2,333	2,363
Depreciation and amortization	173	175	347	350
Impairments, store closing, and other costs		11		11
(Gain) on legal settlement		(129)		(129)
Operating income	261	279	307	339
Interest expense, net	63	78	126	154
Income before income taxes	198	201	181	185
Provision for income taxes	47	48	44	46
Net income	$ 151	$ 153	$ 137	$ 139
Net income per share:
Basic	$ 1.34	$ 1.37	$ 1.22	$ 1.24
Diluted	$ 1.28	$ 1.35	$ 1.18	$ 1.23
Net Sales [Member]
Total revenue	$ 3,318	$ 3,347	$ 6,316	$ 6,396
Other Revenue [Member]
Total revenue	$ 197	$ 199	$ 366	$ 383

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Aug. 01, 2026	Aug. 02, 2025
Operating activities
Net income	$ 137	$ 139
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	347	350
Share-based compensation	19	17
Deferred income taxes	(21)	28
Impairments, store closing, and other costs		11
Non-cash lease expense	44	43
Other non-cash items	(9)	3
Changes in operating assets and liabilities:
Merchandise inventories	(166)	(48)
Other current and long-term assets	3	31
Accounts payable	247	93
Accrued and other long-term liabilities	(77)	(105)
Operating lease liabilities	(46)	(56)
Net cash provided by operating activities	478	506
Investing activities
Acquisition of property and equipment	(146)	(200)
Proceeds from sale of property and equipment		21
Other	(7)
Net cash used in investing activities	(153)	(179)
Financing activities
Proceeds from issuance of debt, net of discount		357
Deferred financing costs		(8)
Net repayments under revolving credit facility		(215)
Shares withheld for taxes on vested restricted shares	(8)	(4)
Dividends paid	(28)	(28)
Repayment of long-term borrowings	(113)	(353)
Discount on redemption of debt	15
Finance lease and financing obligation payments	(44)	(46)
Proceeds from financing obligations	0	10
Net cash used in financing activities	(178)	(287)
Net increase in cash and cash equivalents	147	40
Cash and cash equivalents at beginning of period	674	134
Cash and cash equivalents at end of period	821	174
Supplemental information
Interest paid, net of capitalized interest	$ 146	$ 147

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Aug. 01, 2026	Jan. 31, 2026	Aug. 02, 2025
Current assets:
Cash and cash equivalents	$ 821	$ 674	$ 174
Merchandise inventories	2,913	2,745	2,994
Other	285	272	306
Total current assets	4,019	3,691	3,474
Property and equipment, net	6,661	6,914	7,113
Operating leases	2,297	2,338	2,363
Other assets	433	419	441
Total assets	13,410	13,362	13,391
Current liabilities:
Accounts payable	1,418	1,171	1,134
Accrued liabilities	1,090	1,181	1,159
Borrowings under revolving credit facility			75
Current portion of:
Finance leases and financing obligations	92	85	84
Operating leases	96	94	96
Total current liabilities	2,696	2,531	2,548
Long-term debt	1,325	1,436	1,520
Finance leases and financing obligations	2,295	2,365	2,409
Operating leases	2,613	2,650	2,672
Deferred income taxes	70	91	54
Other long-term liabilities	243	241	261
Shareholders’ equity:
Common stock	1	1	1
Paid-in capital	3,614	3,595	3,578
Treasury stock, at cost	(779)	(771)	(771)
Retained earnings	1,332	1,223	1,119
Total shareholders’ equity	4,168	4,048	3,927
Total liabilities and shareholders’ equity	$ 13,410	$ 13,362	$ 13,391