Kohl's 2015 Annual Report Download - page 59
Download and view the complete annual report
Please find page 59 of the 2015 Kohl's annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49 -
50 -
51 -
52 -
53 -
54 -
55 -
56 -
57 -
58 -
59 -
60 -
61 -
62 -
63 -
64 -
65 -
66 -
67 -
68 -
69 -
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
 |
 |
Table of Contents
At any time, we may be subject to investigations, legal proceedings, or claims related to the on-going operation of our business, including claims both
by and against us. Such proceedings typically involve claims related to various forms of liability, contract disputes, allegations of violations of laws or
regulations or other actions brought by us or others including our employees, consumers, competitors, suppliers or governmental agencies. We routinely
assess the likelihood of any adverse outcomes related to these matters on a case by case basis, as well as the potential ranges of losses and fees. We establish
accruals for our potential exposure, as appropriate, for significant claims against us when losses become probable and reasonably estimable. Where we are
able to reasonably estimate a range of potential losses relating to significant matters, we record the amount within that range that constitutes our best
estimate. We also disclose the nature of and range of loss for claims against us when losses are reasonably possible and material. These accruals and
disclosures are determined based on the facts and circumstances related to the individual cases and require estimates and judgments regarding the
interpretation of facts and laws, as well as the effectiveness of strategies or other factors beyond our control.
Net sales
Gross margin
Selling, general and administrative expenses
Loss on extinguishment of debt
Net income
Basic shares
Basic net income per share
Diluted shares
Diluted net income per share
Net sales $ 4,070
$ 4,242
$ 4,374
$ 6,337
Gross margin $ 1,496
$ 1,654
$ 1,628
$ 2,147
Selling, general and administrative $ 1,000
$ 981
$ 1,097
$ 1,272
Net income $ 125
$ 232
$ 142
$ 369
Basic shares 206
204
202
199
Basic net income per share $ 0.60
$ 1.14
$ 0.70
$ 1.85
Diluted shares 208
205
203
201
Diluted net income per share $ 0.60
$ 1.13
$ 0.70
$ 1.83
Due to changes in stock prices during the year and timing of share repurchases and issuances, the sum of quarterly net income per share may not equal
the annual net income per share.
On February 25, 2016, we announced plans to close 18 underperforming stores in fiscal 2016. We announced the specific locations in March 2016. We
currently expect to incur $150 to $170 million in charges as a result of these planned closures and the organizational realignment at our corporate offices
which were announced in February 2016. We estimate that approximately $55-$65 million of the charges will be recorded in the first quarter of 2016, with
the remainder recorded in the second quarter of 2016.
F-20