Kohl's Corp (NYSE: KSS) is a U.S. department store retailer that sells apparel, footwear, accessories, home goods, and related merchandise through physical stores and digital platforms. Revenue comes primarily from transactional merchandise sales, with a secondary stream from a co-branded and private label credit card program where Kohl's shares in net risk-adjusted revenue, defined as finance charges, late fees, and other revenue less write-offs, with an unrelated third-party card issuer. The company operates stores across multiple U.S. regions, including the Midwest, Southeast, West, Mid-Atlantic, Northeast, and South Central, and owns all of its distribution and e-commerce fulfillment centers except two leased facilities as of January 31, 2026. Women's merchandise generated $3,601 million in FY2025 versus $3,817 million in FY2024, indicating meaningful concentration in that category. Michael J. Bender became CEO effective November 23, 2025. The company declared a quarterly dividend of $0.125 per share on February 25, 2026, making it a dividend payer. Its core customer base skews moderate-income, making results sensitive to U.S. economic conditions, wage levels, and discretionary spending trends.

Revenue model

Transactional merchandise sales through physical stores and e-commerce, supplemented by a revenue-sharing arrangement on a third-party-owned private label and co-branded Kohl's credit card portfolio, where Kohl's receives a share of net risk-adjusted revenue from finance charges, late fees, and other fees less uncollectible write-offs.

Products and services

Apparel including women's (FY2025: $3,601M, FY2024: $3,817M), footwear, accessories, and home merchandise sold under national brands and private labels. Private label and co-branded Kohl's credit cards issued through an unrelated third-party card issuer.

Customers and end markets

U.S. consumers, with a core moderate-income customer segment that is especially sensitive to inflation, employment levels, interest rates, and discretionary spending conditions. Demand concentrates during the holiday season, requiring elevated seasonal staffing.

Value-chain role

Retailer and merchandiser. Kohl's purchases inventory from vendors, prices and sells through stores and digital channels, and outsources credit card issuance to a third-party while retaining a share of portfolio economics. The company owns its distribution and e-commerce fulfillment infrastructure, except two leased facilities as of January 31, 2026.

Geographic exposure

United States only. Stores operate across the Midwest, Southeast, West, Mid-Atlantic, Northeast, and South Central regions. Distribution and e-commerce fulfillment centers located in Ohio, Virginia, Missouri, Texas, New York, California, Georgia, Indiana, and Maryland as of January 31, 2026.

Source: SEC 10-K, filed 2026-03-19

Industry: Retail-Department Stores Peers: Dillard's Inc Macy's Inc NORDSTROM INC