Last week, we reported on Kohl’s strategic initiatives, as announced at its April 30 annual meeting. It is worth noting that in this uncertain economic environment when well-known retailers are shutting down or filing for bankruptcy, Kohl’s is growing.
Last year, the retailer opened 112 new stores — 80 on one day in October. At the close of fiscal 2007, Kohl’s operated 929 stores in 47 states compared with 817 stores in 45 states at the end of 2006.
This year, Kohl’s plans to open 70 to 75 stores, one of which will be its 1000th store. This is impressive during an economic slowdown. Kohl’s is worth studying for success secrets, and we will do more of that in this space.