Kohl's 2002 Annual Report Download - page 7
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Kohl’s became a national retailer
with the opening of 28 stores in
Southern California in March 2003.
Kohl’s expansion strategy is to increase square footage by approxi-
mately 18-20% per year. This strategy is designed to achieve consis-
tent, controlled growth by expanding into both new and contiguous
markets and adding additional stores in markets we already serve.
New in 2002
We opened 75 stores in 2002 – 71 prototype stores and four smaller
test stores. We opened 35 stores in new markets including our entries
into Boston, Massachusetts; Houston, Texas; Providence, Rhode Island;
and Nashville, Tennessee. At the same time, we opened 40 fill-in
stores throughout the regions we currently serve, bringing our total
number of stores to 457 at year end.
From a regional perspective, we substantially increased our presence
in the Northeast, growing from 47 to 77 stores during the year. Our
new market entry into Boston with 15 stores included 12 stores that
were previously operated by Bradlees and were converted to the
Kohl’s format. We entered the Providence market with four new
stores and opened 11 additional stores in the region, continuing our
fill-in strategy in existing markets.
We increased our presence in the South Central region, growing from
52 to 67 stores. Twelve of the 15 new stores represented our entry
into the Houston market, which brought us to a total of 39 stores
in the state of Texas.