Short answer
KOHLS Corp (KSS) filed its fiscal 2025 10-K annual report with the SEC on Mar 20, 2025. It reported revenue of $16.2B (−7.2% year over year) and net income of $109M.
- Top risk flagged: CFPB credit card late fees rule challenged; injunction since May 10, 2024 delays impact on Kohl’s credit card revenue
FY2025 key financial metrics · XBRL
- Revenue
- $16.2B
- −7.2% YoY
- Net income
- $109M
- −65.6% YoY
- Operating margin
- 2.7%
- −1.4 pp YoY
- EPS (diluted)
- $0.98
- −65.6% YoY
- ROE
- 2.9%
- −5.3 pp YoY
- Operating cash flow
- $648M
- −44.5% YoY
Source: XBRL data from the KOHLS Corp (KSS) FY2025 10-K on SEC EDGAR. USD.
KOHLS Corp FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Operates 1,175 Kohl’s stores plus e-commerce platform selling moderately-priced private and national brand apparel, footwear, beauty, and home products
- Strategic emphasis on inclusive culture with 8 Business Resource Groups covering 10,000+ members to foster innovation and belonging
- Average 87,000 associates employed in 2024, with 33,000 full-time and 54,000 part-time, supporting flexible staffing for seasonal demand
- Digital sales fulfilled through 5 operational e-fulfillment centers; San Bernardino center closed in January 2025
- Enhanced associate health and wellness benefits including paid parental leave, doula and surrogacy reimbursements, and Wellness Centers across locations
Management Discussion & Analysis
- Revenue $15.4B in 2024, down 7.2% YoY ($1.2B decrease); Accessories grew 8.8% to $3.06B, driven by Sephora sales +25% ($1.8B total)
- Gross margin 37.2% in 2024 vs 36.7% in 2023 (+50 bps); SG&A $5.3B down 3.7%, but deleveraged 118 bps as % of revenue
- Best segment Accessories +8.8% to $3.06B; worst Children's down 11.7% to $1.82B
- Operating cash flow $648M vs $1.17B in 2023; capex $466M; dividends $222M ($2.00/share); no share repurchases in 2024; reduced debt by $113M
- 2025 capex guidance $400–425M; dividend cut to $0.125/share quarterly; credit rating downgraded with resulting higher interest costs; risk from CFPB credit card regulations pending litigation
Risk Factors
- CFPB credit card late fees rule challenged; injunction since May 10, 2024 delays impact on Kohl’s credit card revenue
- U.S.-only operations exposed to macroeconomic risks affecting moderate-income core customers sensitive to inflation and consumer confidence
- Supply chain reliant on Asian imports; potential U.S. tariffs or trade policy shifts could materially harm business and liquidity
- Omnichannel fulfillment vulnerable to third-party shipping delays, especially during peak holiday season sales volume
- Senior management key-person risk amid labor market challenges and succession uncertainties potentially affecting leadership continuity
Generated from the filing text; verify against the original. How to read a 10-K
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