Kohl's Corporation · NYSE:KSS
Kohl's — Q1 2018 Earnings Presentation
6 slides from Kohl's's earnings presentation, May 22, 2018
Slide 1: ASC 606, Revenue from Contracts with Customers
ASC 606, Revenue from Contracts with Customers Exhibit 99.2 May 22, 2018
Slide 2: Overview
In Q1 2018, Kohl’s adopted Revenue from Contracts with Customers (ASC Topic 606), as required. The new standard eliminated the transaction- and industry-specific revenue recognition guidance under prior U.S. GAAP and replaced it with a principles-based approach for revenue recognition and disclosure
Slide 3: Accounting Overview: Historical vs New Accounting
Accounting Overview Historical Accounting New Accounting Net Sales Included revenue from the sale of merchandise, shipping revenues, unused gift cards (breakage), and other non-merchandise revenues Includes revenue from the sale of merchandise and shipping revenues Other Revenue n/a Includes revenue
Slide 4: Accounting Overview: No Change in Accounting
Accounting Overview No Change in Accounting Comp Sales Includes revenue from the sale of merchandise in our stores and online as well as shipping revenue. Store sales are included after the store has been open for 12 full months, unless square footage has changed by more than 10%. Excludes accountin
Slide 5: Income Statement ($ in millions)
Income Statement ($ in millions) Gross Margin Rate Gross Margin Rate Gross Margin Rate 36.4% Gross Margin Rate 36.4% (1) bps 39.4% 39.1% (30) bps 33.8% 33.5% (33) bps 36.8% 36.7% (7) bps
Slide 6: Income Statement – Fiscal 2017 ($ in millions)
Income Statement – Fiscal 2017 ($ in millions) Gross Margin Rate 36.2% 36.0% (19) bps
KOHLS — Q1 2018 Earnings Presentation on 6ix