Slide 1: Q4 Results Presentation
Q4 Results Presentation . . . . . . . . . . . . . . . . . . . . . . . . March 11, 2025 . . . . . . . . . . . . . . . . . . . . . . . . 1 . . . . . .
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. The Company intends forward-looking terminology such as “believes,” “expects,” “may,” “will,” “should,” “anti
Slide 3: Table of Contents
Table of Contents 6 2025 Outlook 10 Q4 2024 Results 3
Slide 4: Ashley Buchanan, Chief Executive Officer
Ashley Buchanan CHIEF EXECUTIVE OFFICER “Kohl’s is built on a strong foundation that includes operating more than 1,100 conveniently located stores nationwide, serving over 60 million customers, with 30 million of those customers being Kohl’s Loyalty Members. Kohl’s has a tremendous opportunity to b
Slide 5: Kohl's is building on a solid foundation
Kohl's is building on a solid foundation Convenient Nationwide Great Product from Top Brands Omni-Channel Reach 1,175 Stores 80% of Americans live Largest department store chain in America (1) within 15 miles of a Kohl’s store 20M+ Delivering Great Value Active App Users 1,000+ Sephora @ Kohl’s 60M+
Slide 6: 2025 Outlook
2025 OUTLOOK . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
Slide 7: Areas of Focus in 2025 to position Kohl's for future success
Areas of Focus in 2025 to position Kohl’s for future success Offer a curated, more balanced assortment that fulfills needs across all customers • Drive improved assortment clarity across all categories • Regain traction in lost categories (fine jewelry, petities, intimates, legacy home) • Build on m
Slide 8: 2025 Outlook
2025 Outlook METRIC FULL YEAR GUIDANCE Net Sales (5%) to (7%) vs. 2024 Comp Sales (4%) to (6%) Operating 2.2% to 2.6% Margin Diluted EPS $0.10 to $0.60 Capital Allocation Outlook • Capex: $400 million to $425 million • Dividend: $0.125 dividend payable on April 2, 2025 • Debt: Refinance July 2025 ma
Slide 9: Capital allocation priorities support balance sheet goals
Capital allocation priorities support balance sheet goals Invest in the Business Capex of $400 million to $425 million will include investments to complete the roll out of Sephora, expand impulse queuing fixtures, and enhance omni-channel experience. Committed to Dividend The Board has decided to re
Slide 10: Q4 2024 Results
Q4 2024 RESULTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
Slide 11: Q4 2024 Summary
Q4 2024 Summary Key Takeaways • Q4 Net sales declined (9.4%) versus Q4 2023 and comparable sales declined (6.7%). • Gross Margin increased 49 bps to last year driven by optimizing our promotional events, as well as a lower digital penetration. • SG&A expense declined (4.5%) benefiting from tightly m
Slide 12: Sephora at Kohl's is a beauty share leader
Sephora at Kohl’s is a beauty share leader $1.8B+ $2B+ Sales Goal by Sales in 2024 2025 ~140 1,000+ • Comparable Sephora at Kohl’s sales grew 13% in Q4 versus last year Sephora at Kohl’s New Shops shops as of • Solid demand across offering, especially in our fragrance, bath and body, Opened in 2024
Slide 13: Q4 2024 Gross Margin & SG&A Expense Performance
Q4 2024 Gross Margin & SG&A Expense Performance Gross Margin SG&A Expense Increased 49 bps vs Q4 2023 Deleveraged 148 basis points vs Q4 2023 $1,610M $1,539M 32.4% 32.9% % Total Revenue 27.0% 28.5% Q4 2023 Q4 2024 Q4 2023 Q4 2024 Q4 2024 Gross Margin Takeaways Q4 2024 SG&A Takeaways • Increase prima
Slide 14: Q4 Key Metrics
Q4 Consolidated Statement of Operations Three Months Ended Key Metrics (Dollars in Millions) February 1, 2025 February 3, 2024 Net Sales $ 5,175 $ 5,710 Total Revenue 5,397 5,956 Gross Margin Rate 32.9% 32.4% SG&A 1,539 1,610 Depreciation 183 187 Impairments, Store Closings, and Other Costs 76 0 Ope
Slide 15: Appendix
APPENDIX . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
Slide 16: Reconciliations
Reconciliations Net Income Three Months Ended February 1, 2025 February 3, 2024 GAAP $ 48 $ 186 Impairments, store closing, and other 76 - Income tax impact of items noted above (18) - Adjusted (non-GAAP) 106 186 Diluted Earnings per Share GAAP $ 0.43 $ 1.67 Impairments, store closing, and other 0.6
Slide 17: Reconciliations
Reconciliations Impairments, Store Closing, and Other Costs February 1, 2025 Severance & Other exit costs (1) $ 40 Lease (gains)(2) (18) Impairments: Building and other assets (3) 43 Impairments: Lease ROU asset (3) 11 Total Impairments, store closing, and other costs 76 1) Represents severance and
Slide 18: Kohl's
KOHLES