Kohls to Open New DC in Patterson, Calif.

In April executives from Kohl's Corp. (Menomonee Falls, Wis.) announced long-term expectations to open 500 stores over the next five years. In it’s most recent fiscal year, the company opened 95 new stores for a total of 732 stores in 41 states. To support expansion in the Southwest region as well as its entry into the Pacific Northwest, the company will open a distribution facility in Patterson, Calif., in June 2006. The new DC will have the capacity to support 110 stores.

For its fiscal year ended January 28, 2006, net sales for Kohl’s increased 14.5% to $13.4 billion compared with $11.7 billion a year ago. Comparable store sales increased 3.4% over the prior year. Net income increased 19.7% to $842 million, compared with $703 million a year ago. Over the past five years, Kohl’s net income has reportedly increased at a compound annual growth rate of 19.7%.

Source: Kohl’s Corp.

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