MIRA INFORM REPORT
|
Report Date : |
16th May 2006 |
IDENTIFICATION DETAILS
|
Name : |
KOHL'S DEPARTMENT STORES, INC. |
|
|
|
|
Registered Office : |
N56 W17000 Ridgewood Drive Menomonee Falls, Wisconsin 53051, United States |
|
|
|
|
Date of Incorporation : |
1962 |
|
|
|
|
Legal Form : |
Corporation - Private |
|
|
|
|
Line of Business : |
The Company operates 674 retail
department stores. They specializes in
moderately priced apparel, shoes, accessories, home products and house wares. |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
RATING
|
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial &
operational base are regarded healthy. General unfavourable factors will not
cause fatal effect. Satisfactory capability for payment of interest and
principal sums |
Fairly Large |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
IDENTIFICATION &
EXECUTIVE SUMMARY
Company
Name: KOHL'S DEPARTMENT STORES, INC.
Address: N56
W17000 Ridgewood Drive
City: MENOMONEE FALLS
State/Province: WISCONSIN
Zip
Code: 53051
Country: UNITED
STATES
Telephone: 262
703-7000
Facsimile: 262
703-6143
Legal
Form: Corporation - Private
Website: www.kohls.com
@rating
Opinion:
Founded
(D/M/Y): / /1962
As of:
Sales /
Revenue:
Net
Income:
Total
Equity:
Number
of Employees: 95,000
Business
Activity:
Retail
family department store. The Company
operates 674 retail department stores located throughout 40 states in the
United States.
NOTE TO CLIENT
The
Subject was contacted on May 12, 2006. Ms. Barbara Alshouse,
Office
of the CFO, confirmed all information in this report.
LEGAL
Legal
Form: Corporation - Private
Since
(D/M/Y): 13/05/1986
State/Province
of Incorporation: DE
Status:
ACTIVE
Previous
Legal Form:
Company
is NOT required to publish an annual financial report.
The
Subject is incorporated in the State of Delaware under the following
registration:
File
Number: 2090976
Incorporation
Date / Formation Date: 05/13/1986 (mm/dd/yyyy)
Entity
Name: KOHL'S DEPARTMENT STORES, INC.
Entity
Kind: CORPORATION
Entity
Type: GENERAL
Residency:
DOMESTIC
State:
DE
REGISTERED
AGENT: THE CORPORATION TRUST COMPANY
CORPORATION
TRUST CENTER
1209
ORANGE STREET
WILMINGTON,
DE 19801
The
Subject is registered in the State of Wisconsin under the following
registration:
Name:
KOHL'S DEPARTMENT STORES, INC.
Entity
ID: K022260
Effective
Date: 8/15/1986
Status:
Incorporated/Qualified/Registered
Entity
Type: Foreign
Foreign
State:DE
Registered
Agent: CT CORPORATION SYSTEM
8025
EXCELSIOR DRIVE, SUITE 200
MADISON,
WI 53717
Managers/Key Personnel
Mr. R.
Lawrence Montgomery Chairman & Chief Executive Officer
Mr.
Kevin Mansell President
Ms.
Arlene Meier Chief Operating Officer
Mr.
Wesley S. McDonald Chief Financial Officer
AFFILIATED ENTITIES
Kohl’s
Investment Corporation
Kohl’s
Illinois, Inc.
Kohl’s
Pennsylvania, Inc.
Kohl’s
New York DC, Inc.
Kohl’s
Texas, L.L.C.
Kohl’s
Texas Limited Partner, L.L.C.
Kohl’s
Texas, L.P.
Kohl’s
Indiana, Inc.
Kohl’s
Indiana, L.P.
Kohl’s
Michigan, L.P.
Parent Companies
Parent
Company: KOHL’S CORPORATION
N56
W17000 Ridgewood Drive
Menomonee
Falls WI 53051
UNITED
STATES
KOHL’S
CORPORATION trades stock on NYSE under the symbol KSS. A recent closing price
for KSS was USD$56.65 and the 52 week range has been USD$42.78 - $58.90.
Key
Consolidated Figures of KOHL’S CORPORATION
and its Subsidiaries
Company Financials Quarterly (Jan '06) Annual (2006)
Income Statement
(in millions of USD)
Total Revenue 4,651.94 13,402.22
Gross Profit 1,578.56 4,762.94
Operating Income 621.65 1,416.18
Net Income 374.91 841.96
Balance Sheet
(in millions of USD)
Total Current Assets 4,266.05 4,266.05
Total Assets 9,153.04 9,153.04
Total Current Liabilities 1,746.45 1,746.45
Total Liabilities 3,195.70 3,195.70
Total Equity 5,957.34 5,957.34
BANKS
HSBC
WI
Telephone:
Facsimile:
Account Number:
Account Manager:
We have contacted the bank
who has not yet responded.In the event a response is received, the information
will be forwarded on immediately. It is our experience that these requests
could take several days before a response is received.
PAYMENT HISTORY
BUSINESS DATE LAST PAYMENT CREDIT BALANCE CUR 1- 31- 61-
CATEGORY REPTD SALE TERMS $
$ % 30
60 90 91+ COMMENTS
---------- ----- ----- ------- --------
-------- --- --- --- --- --- --------
APPAREL 06-04 00-00 NET 30
1515700 1515700 62
38 0 0 0
COMMUNICTN 06-04 02-11 NET 20 0
0 0 0
0 0 0 CUST 12 YR
ELEC EQUIP 06-04 05-03 NET 30 500
0 0 0
0 0 0 CUST 3 YR
FACTOR 06-04 06-04 VARIED
60700 60700 93
7 0 0 0
FACTOR 06-03 02-03 NET 30
0 0 0
0 0 0 0 CUST
6 YR
FACTOR 06-05 00-00 NET 30
57200 0 0
0 0 0 0
FINCL SVCS 06-03 05-09 NET 1200
0 0 0
0 0 0 CUST 2 YR
FREIGHT 06-05 06-04 VARIED
3151300 804900 69
24 2 4 1
GIFTWARE 06-04 00-00 CONTRCT 397400
3100 98 0 0
0 2
INDUS SUPL 06-04 05-08 COD 100
0 0 0
0 0 0 CUST 1 YR
MACH DISTR 06-04 05-12 1/10N30 400 400
0 0 0 100 0 CUST
6 YR
MATRL HNDL 06-03 06-02 NET 30 53000
53000 100 0 0
0 0 CUST 2 YR
NEWSPAPERS 06-04 06-04 NET 30 385200
157600 84 13 3 0
0
NEWSPAPERS 06-04 06-01 NET 15 8300
0 0 0
0 0 0
NEWSPAPERS 06-04 06-04 NET 21 101900
90900 53 47 0 0
0
OFFC SUPPL 06-04 06-04 NET 200000
408400 43 54
3 0 0 CUST 6 YR
PAPER PROD 06-03 06-02 UNK 800
0 0 0
0 0 0
PRNTG& PUBL 06-02 00-00 CONTRCT
0 0 0 0 0
0 0
PRNTG& PUBL 06-03 00-00 NET 15 107100
38700 1 96
3 0 0
TELECOM 06-05 00-00 NET 30
100 0 0
0 0 0 0
TRANSPORTN 06-04 00-00 VARIED 0
0 0 0
0 0 0 CUST 6 YR
TRANSPORTN 06-03 03-02 NET 15 0
0 0 0
0 0 0
TRUCK DLR 06-05 00-00 CONTRCT 800
0 0 0
0 0 0
WAREHOUSE 06-04 03-03 VARIED 0 0 0 0 0
0 0 ACCTCLOSED
AIR TRANS 05-09 05-09
1100 0 0
0 0 0 0
AIR TRANS 05-12 00-00 NET 30
275300 31100 48
39 0 0 13 CUST
6 YR
AIR TRANS 03-06 00-00 NET 7 0 0 0 0 0
0 0
BUREAU 05-12 05-12 VARIED
589600 234800 100 0
0 0 0 CUST 9 YR
BUS SERVCS 04-02 04-02 NET 30 275000
275000 86 14 0 0
0
COMPUTERS 05-05 00-00 CREDIT 0 0 0 0 0
0 0 CUST 37 YR
COMPUTERS 04-02 00-00 NET 30
200 0 0
0 0 0 0
ELEC MFG 03-09 00-00 VARIED
2000 0 0
0 0 0 0
FACTOR 05-09 00-00 NET 30
35700 0 0
0 0 0 0
FACTOR 04-01 02-05 NET 30
0 0 0 0
0 0 0
FACTOR 05-11 99-12 VARIED
0 0 0
0 0 0 0
FACTOR 04-04 00-00 NET30
0 0 0
0 0 0 0 CUST
8 YR
FOOD DISTR 03-12 03-01 NET 30 1300
0 0 0
0 0 0 CUST 6 YR
GIFTWARE 05-09 05-09 NET 30
0 0 0
0 0 0 0 CUST 11 YR
GIFTWARE 05-09 05-09 NET 30
500000 111200 91
9 0 0 0 CUST
3 YR
GIFTWARE 03-08 00-00 VARIED
0 0 0
0 0 0 0
GLASS 03-06 00-00 NET 30
0 0 0
0 0 0 0
LEASING 04-10 04-09 N30
300 300 0
0 100 0 0
NEWSPAPERS 04-02 04-02 NET 225800
166700 55 45 0 0
0
NEWSPAPERS 05-12 00-00 NET 30 550500
453700 45 55 0 0
0
NEWSPAPERS 05-03 05-02 NET 30 3200
3200 100 0 0
0 0 CUST 1 YR
NEWSPAPERS 04-12 04-12 NET 30 46400
46400 0 61
39 0 0
PAPER PROD 04-12 00-00 NET 30 0
0 0 0
0 0 0
TEMP HELP 05-07 00-00 NET EOM 3900
1300 0 0
0 0 100 CUST 1 YR
TEMP HELP 04-06 02-08 CONTRCT 0
0 0 0
0 0 0
TRANSPORTN 04-11 00-00 VARIED 700
0 0 0
0 0 0
CURRENT QUARTER 6041600 3133400
63 35 1 1 0
Payment Trends
INDUSTRY BUSINESS
BALANCE CUR 1- 31- 61-
DATE CUR DBT DBT $ % 30
60 90 91+
-------- --- --- --- -------- --- --- --- --- ---
20060400 0 8 5 3318000 77 19
3 1 0
20060300 0 7
5 3372500 78
19 2 0 1
20060200 0 7 7 3690100 66 30
2 2 0
20060100 0 9 5 5689100 71 28
1 0 0
20051200 0 8 3 3094400 83 17
0 0 0
20051100 0 7 4 2462500 74 25
1 0 0
Payment History - Quarterly Averages
BALANCE
CUR 1- 31- 61-
QUARTER
YEAR DBT $ % 30 60
90 91+
-------- ------ --- -------- --- --- --- --- ---
First
2006 5 3457800 74 23 2
1 0
Fourth
2005 4 3748600 75 24 1
0 0
Third
2005 4 1249300 79 19 1
0 1
Second
2005 7 1046700 69 26 3
1 1
First
2005 7 1565700 70 24 5
1 0
FINANCIAL INFORMATION
The company does not release
separate financial statements for public review as they are consolidated into
those of the parent company. Please see PARENT COMPANY for consolidated
financial figures.
HISTORY
KOHL'S was founded by the
Kohl family in 1962. The Company was originally
incorporated in Delaware in
1986 when KOHL'S CORPORATION bought out BRITISH AMERICAN TOBACCO.
CURRENT OPERATIONS
NAICS Code :
44814 Family Clothing Stores
SIC Code :
5651
NAICS Code :
4521 Department Stores
Number of Employees: 95,000
Business Activity:
Retail family department
store. The Company operates 674 retail
department stores located throughout 40 states in the United States. The
Company specializes in moderately priced apparel, shoes, accessories, home
products and house wares. The stores features: Carter's®, Champion®, Columbia
Sportswear Company®,
Dockers®, Haggar®, Healthtex®, Jockey®, KitchenAid®,
Krups, Lee®, Levi's®, Norton
McNaughton®, Pfaltzgraff®, Playtex®, Reebok®,
Vanity Fair® and more.
The heading address is he
Subject's corporate headquarters.
The Subject has 674 retail
store, located throughout 40 states in the United
States.
The Subject has nine
distribution centers, located in:
Menomonee Falls, Wisconsin
Winchester, Virginia
Findlay, Ohio
Blue Springs, Missouri
Corsicana, TX
Mamakating, NY
San Bernardino, CA
Monroe, Ohio
Macon, GA
PUBLIC RECORD
Filing Number: 10007024316
Filing Date: 10/24/2001
Filing Time: 9:50PM
Expiration Date: 10/24/2006
Total Number of Pages: 1
Filing Type: ORIGINAL
Filing Office: SECRETARY OF
STATE/UCC
DIVISION
30 W MIFFLIN
MADISON, WI 53702
DEBTOR INFORMATION
Debtor(s): KOHL'S DEPARTMENT
STORES INC
N 56W 17000 RIDGEWOOD DR
MENOMONEE FALLS, WI 53051
SECURED PARTY OR CREDITOR
INFORMATION
Secured Party: WELLS FARGO
FINANCIAL
LEASING, INC.
604 LOCUST 15 FL
DES MOINES, IA 50309
COLLATERAL INFORMATION
Collateral Type: BUSINESS
MACHINERY/EQUIPMENT
--------------------------------------------------------------------------------
Filing Number: 10010680217
Filing Date: 12/28/2001
Filing Time: 9:45PM
Expiration Date: 20061228
Total Number of Pages: 001
Filing Type: ORIGINAL
Filing Office: SECRETARY OF
STATE/UCC
DIVISION
30 W MIFFLIN
MADISON, WI 53702
DEBTOR INFORMATION
Debtor(s): KOHL'S DEPARTMENT
STORES, INC.
N56 W17000 RIDGEWOOD DR
MENOMONEE FALLS, WI 53051
SECURED PARTY OR CREDITOR
INFORMATION
Secured Party: IBM CREDIT
CORPORATION
(LESSOR)
1 NORTH CASTLE DRIVE
ARMONK, NY 10504-2575
--------------------------------------------------------------------------------
Filing Number: 10008793734
Filing Date: 11/19/2001
Filing Time: 9:45PM
Expiration Date: 20061119
Total Number of Pages: 001
Filing Type: ORIGINAL
Filing Office: SECRETARY OF
STATE/UCC
DIVISION
30 W MIFFLIN
MADISON, WI 53702
DEBTOR INFORMATION
Debtor(s): KOHL'S DEPARTMENT
STORES, INC.
N56 W17000 RIDGEWOOD DR
MENOMONEE FALLS, WI 53051
SECURED PARTY OR CREDITOR
INFORMATION
Secured Party: IBM CREDIT CORPORATION
(LESSOR)
1 NORTH CASTLE DRIVE
ARMONK, NY 10504-2575
--------------------------------------------------------------------------------
Filing Number: 10008641928
Filing Date: 11/16/2001
Filing Time: 9:55PM
Expiration Date: 20061116
Total Number of Pages: 001
Filing Type: ORIGINAL
Filing Office: SECRETARY OF
STATE/UCC
DIVISION
30 W MIFFLIN
MADISON, WI 53702
DEBTOR INFORMATION
Debtor(s): KOHL'S DEPARTMENT
STORES, INC.
N56 W17000 RIDGEWOOD DR
MENOMONEE FALLS, WI 53051
SECURED PARTY OR CREDITOR
INFORMATION
Secured Party: IBM CREDIT
CORPORATION
(LESSOR)
1 NORTH CASTLE DRIVE
ARMONK, NY 10504-2575
--------------------------------------------------------------------------------
Filing Number: 10005649832
Filing Date: 10/03/2001
Filing Time: 10:00PM
Expiration Date: 20061003
Total Number of Pages: 001
Filing Type: ORIGINAL
Filing Office: SECRETARY OF
STATE/UCC
DIVISION
30 W MIFFLIN
MADISON, WI 53702
DEBTOR INFORMATION
Debtor(s): KOHL'S DEPARTMENT
STORES, INC.
N56 W17000 RIDGEWOOD DR
MENOMONEE FALLS, WI 53051
Secured Party: IBM CREDIT
CORPORATION
(LESSOR)
1 NORTH CASTLE DRIVE
ARMONK, NY 10504-2575
--------------------------------------------------------------------------------
Filing Number: 20012256218
Filing Date: 06/25/2002
Filing Time: 10:25PM
Expiration Date: 06/25/2007
Total Number of Pages: 1
Filing Type: ORIGINAL
Filing Office: SECRETARY OF
STATE/UCC
DIVISION
30 W MIFFLIN
MADISON, WI 53702
DEBTOR INFORMATION
Debtor(s): KOHL'S DEPARTMENT
STORES INC.
N56 W17000 RIDGEWOOD DR.
MENOMONEE FALLS, WI 53051
SECURED PARTY OR CREDITOR
INFORMATION
Secured Party: WELLS FARGO
FINANCIAL
LEASING, INC.
604 LOCUST ST, 13TH FLOOR
DES MOINES, IA 50309
COLLATERAL INFORMATION
--------------------------------------------------------------------------------
Filing Number: 20012196625
Filing Date: 06/24/2002
Filing Time: 10:25PM
Expiration Date: 06/24/2007
Total Number of Pages: 1
Filing Type: ORIGINAL
Filing Office: SECRETARY OF
STATE/UCC
DIVISION
30 W MIFFLIN
MADISON, WI 53702
DEBTOR INFORMATION
Debtor(s): KOHL'S DEPARTMENT
STORES INC.
N56 W17000 RIDGEWOOD DR.
MENOMONEE FALLS, WI 53051
SECURED PARTY OR CREDITOR
INFORMATION
Secured Party: F & M BANK-WISCONSIN
FOURTH ST PLAZA
KAUKAUNA, WI 54130
--------------------------------------------------------------------------------
Filing Number: 10005649832
Filing Date: 10/03/2001
Filing Time: 10:00PM
Expiration Date: 10/03/2006
Total Number of Pages: 1
Filing Type: ORIGINAL
Filing Office: SECRETARY OF
STATE/UCC
DIVISION
30 W MIFFLIN
MADISON, WI 53702
DEBTOR INFORMATION
Debtor(s): KOHL'S DEPARTMENT
STORES, INC.
N56 W17000 RIDGEWOOD DR
MENOMONEE FALLS, WI 53051
SECURED PARTY OR CREDITOR
INFORMATION
Secured Party: IBM CREDIT
CORPORATION
(LESSOR)
1 NORTH CASTLE DRIVE
ARMONK, NY 10504-2575
COLLATERAL INFORMATION
Collateral Type: LEASED
COMPUTER EQUIPMENT
--------------------------------------------------------------------------------
We have also conducted a
nationwide search with bankruptcy courts, which have revealed no record of a
firm by this name filing for bankruptcy.
GENERAL COMMENTS
KOHL'S DEPARTMENT STORES,
INC. is a wholly owned subsidiary of KOHL'S
CORPORATION. The Subject
operates 674 retail department stores located
throughout 40 states in the
United States. The Subject's payment history is
reported to be satisfactory.
Management provided operating details. We know the Company to be of good legal
standing and are considered responsible for normal business transactions.
RATING EXPLANATIONS
RATING
|
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely
sound financial base with the strongest capability for timely payment of
interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate
working capital. No caution needed for credit transaction. It has above
average (strong) capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial &
operational base are regarded healthy. General unfavourable factors will not
cause fatal effect. Satisfactory capability for payment of interest and
principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable &
favourable factors carry similar weight in credit consideration. Capability
to overcome financial difficulties seems comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are
apparent. Repayment of interest and principal sums in default or expected to
be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk
exists. Caution needed to be exercised |
Credit not recommended |