KSS

EX-99.1

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EX-99.1

EX-99.1

Exhibit 99.1

Kohl’s Reports Second Quarter Fiscal 2026 Financial Results

MENOMONEE FALLS, Wis.—(BUSINESS WIRE)—August 26, 2026— Kohl’s Corporation (NYSE: KSS) (“Kohl’s” or the “Company”) today reported results for the second quarter ended August 1, 2026.

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Net sales decreased 0.9% and comparable sales decreased 0.9%

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Gross margin increased 305 basis points

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Diluted earnings per share (“EPS”) of $1.28 and a year to date EPS of $1.18

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Raises full year 2026 financial outlook

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Restarting share repurchase program

Michael Bender, Kohl’s Chief Executive Officer, said, “We are confident that the work we are executing is leading us in the right direction. Our second quarter results reflect the ongoing progress against our initiatives, leading to another improvement in our comparable sales trend. While we are encouraged with the momentum we have made thus far, we know there is critical work ahead of us.

Importantly, we have made significant strides in building a strong balance sheet through diligent operational focus across the organization. This provides us a critical foundation as we invest in the business, lead with value for our customers, and return capital to our shareholders. I would like to thank the entire Kohl’s team for their hard work and commitment to serving our customers every day.” Bender continued.

Second Quarter 2026 Results

Comparisons refer to the 13-week period ended August 1, 2026 versus the 13-week period ended August 2, 2025

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Net sales decreased 0.9% year-over-year, to $3.3 billion, with comparable sales also down 0.9%.

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Gross margin as a percentage of net sales was 43.0%, an increase of 305 basis points year-over-year.

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Selling, general & administrative (SG&A) expenses decreased 0.9% year-over-year, to $1.2 billion. As a percentage of total revenue, SG&A expenses were 33.8%, consistent with the prior year.

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Operating income was $261 million compared to $279 million in the prior year. As a percentage of total revenue, operating income was 7.4%, a decrease of 45 basis points year-over-year. Adjusted operating income was $161 million and 4.6% of total revenue in the prior year.(a)

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Net income was $151 million, or $1.28 per diluted share. This compares to net income of $153 million, or $1.35 per diluted share and adjusted net income of $64 million, or $0.56 per adjusted diluted share, in the prior year.(a)

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Inventory was $2.9 billion, a decrease of 3% year-over-year.

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Operating cash flow was $552 million compared to $598 million in the prior year.

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Tariff refunds of approximately $150 million were received in the quarter of which approximately $100 million flowed through gross margin.

Six Months Fiscal Year 2026 Results

Comparisons refer to the 26-week period ended August 1, 2026 versus the 26-week period ended August 2, 2025

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Net sales decreased 1.2% year-over-year, to $6.3 billion, with comparable sales down 1.0%.

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Gross margin as a percentage of net sales was 41.5%, an increase of 162 basis points.

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Selling, general & administrative expenses decreased 1.3% year-over-year, to $2.3 billion. As a percentage of total revenue, SG&A expenses were 34.9%, an increase of 6 basis points year-over-year.

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Operating income was $307 million compared to $339 million in the prior year. As a percentage of total revenue, operating income was 4.6%, a decrease of 41 basis points year-over-year. Adjusted operating income was $221 million and 3.3% of total revenue in the prior year. (a)

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Net income was $137 million, or $1.18 per diluted share. This compares to net income of $139 million, or $1.23 per diluted share, in the prior year and adjusted net income of $50 million, or $0.44 per adjusted diluted share, in the prior year. (a)

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Long-term debt decreased $195 million to the prior year, primarily driven by $113 million of

debt repurchased at a discount of $15 million in 2026 and $87 million of debt repurchases in the prior year.

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Operating cash flow was $478 million compared to $506 million in the prior year.

(a)

Non-GAAP financial measures: Please see the “RECONCILIATION OF NON-GAAP FINANCIAL MEASURES” for a reconciliation of adjusted operating income to operating income, adjusted net income to net income, and adjusted diluted earnings per share to diluted earnings per share.

2026 Financial and Capital Allocation Outlook

The Company raises its guidance and includes the benefit of IEEPA Tariff refunds received in the second quarter. For the full year 2026, the Company now expects the following:

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Net sales and Comparable sales: A decrease of (1.5%) to flat

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Adjusted Operating margin: In the range of 3.5% to 4.0% (b)

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Adjusted Diluted EPS: In the range of $1.80 to $2.40 (b)

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Capital Expenditures: In the range of $350 million to $400 million

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Dividend: On August 18, 2026, Kohl’s Board of Directors declared a quarterly cash dividend on the Company’s common stock of $0.125 per share. The d

EX-99.1

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EX-99.1

EX-99.1

Exhibit 99.1

Kohl’s Reports First Quarter Fiscal 2026 Financial Results

MENOMONEE FALLS, Wis.—(BUSINESS WIRE)—May 28, 2026— Kohl’s Corporation (NYSE: KSS) today reported results for the first quarter ended May 2, 2026.

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Net sales decreased 1.7% and comparable sales decreased 1.1%

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Gross margin increased 4 basis points

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Diluted loss per share of ($0.13)

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Affirms full year 2026 financial outlook

Michael Bender, Kohl’s Chief Executive Officer, said “We are pleased with our start to 2026. Our key initiatives continue to drive progressive improvements to the business, resulting in our best comparable sales performance in over four years. In addition, we continue to manage the business with great discipline leading to strong expense management, cleaner inventories, and an improved balance sheet.”

“Moving forward, we remain committed to delivering more value and a better experience to our customers. I would like to extend my sincere gratitude to all of our Kohl’s associates for their dedication and determination to execute against our initiatives,” Bender continued.

First Quarter 2026 Results

Comparisons refer to the 13-week period ended May 2, 2026 versus the 13-week period ended May 3, 2025

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Net sales decreased 1.7% year-over-year, to $3 billion, with comparable sales down 1.1%.

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Gross margin as a percentage of net sales was 39.9%, an increase of 4 basis points year-over-year.

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Selling, general & administrative (SG&A) expenses decreased 1.6% year-over-year, to $1.1 billion. As a percentage of total revenue, SG&A expenses were 36.2%, an increase of 15 basis points year-over-year.

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Operating income was $46 million compared to $60 million in the prior year. As a percentage of total revenue, operating income was 1.4%, a decrease of 41 basis points year-over-year.

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Net loss was $14 million, or ($0.13) per diluted share. This compares to net loss of $15 million, or ($0.13) per diluted share in the prior year.

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Inventory was $2.9 billion, a decrease of 8% year-over-year.

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Operating cash flow was a use of $74 million.

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Borrowings under revolving credit facility were $0, a decrease of $545 million year-over-year.

2026 Financial and Capital Allocation Outlook

For the full year 2026, the Company continues to expect the following:

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Net sales and Comparable sales: A decrease of (2%) to flat

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Adjusted Operating margin: In the range of 2.8% to 3.4% (a)

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Adjusted Diluted EPS: In the range of $1.00 to $1.60 (a)

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Capital Expenditures: In the range of $350 million to $400 million

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Dividend: On May 20, 2026, Kohl’s Board of Directors declared a quarterly cash dividend on the Company’s common stock of $0.125 per share. The dividend is payable June 24, 2026 to shareholders of record at the close of business on June 10, 2026.

(a)

Non-GAAP financial measures: The Company provides adjusted operating

margin and adjusted diluted earnings per share on a non-GAAP basis and does not provide a reconciliation of the Company’s forward looking guidance to the most directly comparable GAAP financial measures because of the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliations.

First Quarter 2026 Earnings Conference Call

Kohl’s will host its quarterly earnings conference call at 9:00 am ET on May 28, 2026. A webcast of the conference call and the related presentation materials will be available via the Company’s web site at investors.kohls.com, both live and after the call.

Cautionary Statement Regarding Forward-Looking Information

This press release 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,” “anticipates,” “plans,” or similar expressions to identify forward-looking statements. Forward-looking statements include the information under “2026 Financial and Capital Allocation

Outlook.” Such statements are subject to certain risks and uncertainties, which could cause the Company’s actual results to differ materially from those anticipated by the

forward-looking statements. These risks and uncertainties include, but are not limited to, risks described more fully in Item 1A in the Company’s Annual Report on Form 10-K, which are expressly

incorporated herein by reference, and other factors as may periodically be described in the Company’s filings with the SEC. Forward-looking statements relate to the date initially made, and the Company undertakes no obligation to update them.

About Kohl’s

Kohl’s (NYSE: KSS) is a leading omnichannel retailer built on a foundation that combines great brands, incredible value and convenience for our customers. Kohl’s is uniquely positioned to deliver against its long-term strategy and its purpose to take care of families’ realest moments. Kohl’s serves millions of families in its more

8-K

KOHLS Corp false 0000885639 0000885639 2026-03-10 2026-03-10

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): March 10, 2026

KOHL’S CORPORATION

(Exact name of Registrant as Specified in Its Charter)

Wisconsin

001-11084

39-1630919

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(IRS Employer Identification No.)

N56 W17000 Ridgewood Drive

Menomonee Falls, Wisconsin

53051

(Address of Principal Executive Offices)

(Zip Code) Registrant’s Telephone Number, Including Area Code: 262 703-7000

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, $.01 par value

KSS

New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On March 10, 2026, Kohl’s Corporation (the “Company”) issued a press release reporting its earnings for the quarter and year ended January 31, 2026 and provided earnings guidance for fiscal 2026. A copy of the press release is attached as Exhibit 99.1 and incorporated by reference herein. A copy of the presentation materials for the March 10, 2026 quarterly earnings conference call is attached as Exhibit 99.2 and incorporated by reference herein.

Item 7.01 Regulation FD Disclosure.

See Item 2.02. The information in Items 2.02 and 7.01, including the exhibits attached hereto, is furnished solely pursuant to Items 2.02 and 7.01 of Form 8-K. Consequently, such information is not deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liabilities of that section. Further, the information in Items 2.02 and 7.01, including the exhibits, shall not be deemed to be incorporated by reference into the filings of the registrant under the Securities Act of 1933.

Item 8.01 Other Events.

As previously announced, on February 25, 2026, the Board of Directors of the Company declared a quarterly cash dividend of $0.125 per share. The dividend will be paid on April 1, 2026, to all shareholders of record at the close of business on March 18, 2026. Cautionary Statement Regarding Forward-Looking Information and Non-GAAP Measures This current report on Form 8-K 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,” “could,” “intends,” “anticipates,” “estimates,” “plans,” or similar expressions to identify forward-looking statements. Forward-looking statements include, but are not limited to, the information under “2026 Financial and Capital Allocation Outlook,” and “2026 Outlook & Areas of Focus,” comments about Kohl’s adequacy of capital resources, statements regarding our 2026 areas of focus and future initiatives, and statements regarding the impact of macroeconomic events and our response to such events, including tariffs. Such statements are based on current assumptions, expectations, and beliefs and are subject to certain risks and uncertainties, which could cause the Company’s actual results to differ materially from those anticipated by the forward-looking statements. These risks and uncertainties include, but are not limited to, risks described more fully in Item 1A in the Company’s Annual Report on Form 10-K and Item 1A of Part II of the Company’s Quarterly Report on Form 10-Q for the first quarter of fiscal 2025, which are expressly incorporated herein by reference, and other factors as may periodically be described in the Company’s filings with the SEC. Forward-looking statements relate to the date initially made, and t