Slide 1: Q4 2021 Results Presentation
Q4 2021 Results Presentation March 1, 2022
Slide 2: Cautionary Statement Regarding Forward-Looking Information
Cautionary Statement Regarding Forward-Looking Information This presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "believes," "anticipates," "plans," "may," "intends," "will," "should," "expects," and similar
Slide 3: Q4 2021 Results Presentation Contents
Q4 2021 Results Presentation Key Takeaways and 2022 Outlook 4 Kohl’s Investor Day 2022 10 3
Slide 4: Key Takeaways and 2022 Outlook
Key Takeaways and 2022 Outlook 4
Slide 5: Key Takeaways
Key Takeaways Fundamentally restructured business to be more profitable • Delivered all-time record adjusted diluted EPS of $7.33 in 2021, eclipsing previous high of $5.60 in 2018 • Operating margin of 8.6% in 2021 exceeded our goal of 7% to 8% two years ahead of plan Our strategy is building moment
Slide 6: 2022 Outlook
2022 Outlook Metric Full Year Guidance 2% to 3% increase Net Sales versus 2021 Operating Margin 7.2% to 7.5% EPS $7.00 to $7.50 Capital Allocation Strategy • Capex: ~$850 million • Dividend: $0.50 quarterly dividend payable on March 30, 2022 • Share Repurchase Program: Kohl’s Board of Directors appr
Slide 7: Q4 2021 Key Metrics
Q4 2021 Key Metrics Consolidated Statement of Operations (Dollars in Millions) Three Months Ended January 29, 2022 January 30, 2021 Net Sales $ 6,220 5,879 Total Revenue 6,499 6,141 Gross Margin Rate 33.2% 32.0% • Net sales increased 5.8% versus Q4 SG&A 1,687 1,603 2020 driven by double-digit growth
Slide 8: Q4 2021 Gross Margin & SG&A Expense Performance
Q4 2021 Gross Margin & SG&A Expense Performance Gross Margin SG&A Expense Increased 124 bps versus Q4 2020 SG&A leveraged 15 bps versus Q4 2020 $1,687M 33.2% $1,603M 32.0% % Total Revenue 26.1% 26.0% Q4 2020 Q4 2021 Q4 2020 Q4 2021 Q4 2021 Gross Margin Takeaways Q4 2021 SG&A Takeaways Achieved 10 ye
Slide 9: Enhanced Liquidity Position
Enhanced Liquidity Position Key Balance Sheet & Cash Flow Items: FY 2021 January 31, 2021 Beginning Cash $2,271M Key Takeaways Sources • Strong earnings performance and cash flow Operating Cash Flow $2,271M generation further improved leverage profile • Increased share repurchases, reinforcing our N
Slide 10: Investor Day 2022
Investor Day 2022 10
Slide 11: Investor Day 2022
Investor Day 2022 VIRTUAL EVENT Join us Monday, March 7, as CEO Michelle Gass, CFO Jill Timm, and members of our March 7, 2022 executive leadership team provide an update on our strategy and key initiatives, an 9am ET - 12pm ET overview of our financial plan, as well as address participant questions
Slide 12: Kohl's Investor Day 2022 Agenda
Kohl’s Investor Day 2022 Agenda Company Overview Financial & Capital 1 & Strategy 5 Allocation Strategies Michelle Gass Jill Timm Chief Executive Officer Chief Financial Officer Merchandising ESG 2 Doug Howe 6 Michelle Gass Chief Merchandising Officer Chief Executive Officer Customer 3 & Marketing G
Slide 13: Appendix
Appendix 13
Slide 14: Reconciliations
Reconciliations Adjusted Net Income (Loss) and Diluted Earnings (Loss) per Share, Non-GAAP Financial Measures (unaudited) Three Months Ended (Dollars in Millions, Except per Share Data) January 29, 2022 January 30, 2021 Net Income (Loss) GAAP $ 299 $ 343 Impairments, store closing, and other — 4 Inc
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