Kohl’s Corporation has introduced new long-term financial targets of low-single digits percent sales growth, 7 to 8 percent operating margin and mid-to-high single digits percent EPS growth.
As a part of its growth strategy presented by the company at the investor day on March 7, 2022, Kohl’s plans to grow Sephora to a 2 billion dollars business across more than 850 stores and expects to open 100 new Kohl's stores in the next four years.
“Kohl's is undergoing a significant transformation of our business model and brand to be the retailer of choice for the active and casual lifestyle. We have fundamentally restructured our business to drive sustainable and profitable growth, while providing a strong return to shareholders,” said Michelle Gass, Kohl’s chief executive officer in a release.
Kohl's plans to drive continued growth in the active and casual categories; grow the dress business and expand its outdoor and swim categories.
Kohl’s will expand its store portfolio and further build its digital business to 8 billion dollars by opening more than 100 new smaller format Kohl’s stores over the next four years and enhancing discovery and shopability on Kohls.com. The plan also includes rolling out self-serve buy online, pick up in store to all stores in 2022, and continuing to test self-serve returns and check-out.