MIRA INFORM REPORT
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Report Date : |
06.05.2011 |
IDENTIFICATION DETAILS
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Name : |
KOHLS DEPARTMENT STORES INC |
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Registered Office : |
Corporation Trust Center 1209 Orange Street Wimington New Castle De
19801 |
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Country : |
United States |
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Date of Incorporation : |
13.05.1986 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Apparel and other accessories retailer |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 500,000 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Regular |
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Litigation : |
Exists |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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United States |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
GEOPOLITICS - UNITED STATES
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: Federal
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Currency: USD |
IDENTIFICATION
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Ordered as: |
Kohls Department Stores Inc |
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Address in the order: |
N-56 W 1700 Ridgewood Drive Menomonee Falls USA W I 153051 |
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Legal Name: |
KOHLS DEPARTMENT STORES INC |
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Legal Address |
CORPORATION TRUST CENTER 1209 ORANGE STREET Wimington New Castle DE
19801 (registered address) |
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Operative Address |
N 56 W 17000 Ridgewood Drive Menomonee Falls, WI 53051 |
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Telephone: |
+1 (262) 703-7000 |
ID : |
2090976 |
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Fax: |
+1 (262) 703-7115 |
Legal Form: |
Corporation for Profit |
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Email: |
investor.relations@kohls.com |
Registered in: |
Delaware |
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Website: |
Date Created: |
1986 |
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Manager: |
Kevin Mansell, CEO |
Date Incorporated: |
May 13th, 1986 |
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Staff: |
29,000 (At group level) |
Stock: |
290,417,880 |
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Value: |
$.01 Par Value |
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Activity: |
Apparel and other accessories retailer. |
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BANKS
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Name of the Bank |
JP Morgan Chase |
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Name of the Bank |
WELLS FARGO BANK, N.A. |
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Name of the Bank |
Bank of America |
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Name of the Bank |
Bank of New York |
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Name of the Bank |
WACHOVIA |
BUSINESS
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HISTORY |
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The company was created in the year 1986. |
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PRINCIPAL ACTIVITY |
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The company operates as a department store, providing Apparel,
Footwear, Accessories, and Home products. |
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Products/Services description: |
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Women's Juniors' Handbags Shoes Intimates Men's Team Shop Kids' Baby Jewelry & Watches Toys & Games Bed & Bath Kitchen & Dining Furniture & Decor Home Care Luggage Electronics Beauty & Fragrance |
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Sales are: |
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Retail |
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Brands: |
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Croft & Barrow APT.9 Sonoma Chaps Daisy Fuentes Dockers |
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Clients: |
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General clientele |
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Suppliers: |
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Elle LC Lauren COnrad Lee Levi's Simply Vera Vera Wang ZeroXposur |
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Operations area: |
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National, Local |
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The company imports from Worldwide |
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The company does not export |
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Comments on staff: |
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The company has 29,000 employees at group level. |
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PAYMENTS |
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regular |
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LOCATION |
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Headquarters |
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The company is headquartered at N 56 W 17000 Ridgewood Drive Menomonee
Falls, WI 53051. |
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Comments on location: |
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The company is incorporated in Delaware for tax purposes. However, it is headquartered in Wisconsin. |
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Branches: |
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The company has several branches all over the country including: -Washington -South Dakota -Texas -Illinois -New York -Virginia |
Shareholders - Manager - Related Companies
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Listed at the stock exchange: |
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YES |
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Shareholders Parent Company(ies): |
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The company is wholly own subsidiary of Kohl's Corp. a public company that
trades at the stock exchange NYSE under tiker symbol "KSS" Kohl's Corp. N 56 W 17000 Ridgewood Drive Menomonee Falls, WI 53051 United States - Map Phone: 262-703-7000 Fax: 262-703-6143 Website: http://www.kohls.com |
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Management: |
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Kevin Mansell, CEO Wesley S. McDonald, CFO Donald A. Brennan, CMO John M. Worthington, CAO |
Financials - COMMERCIAL TRENDS AND FORECAST
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As a private company the subject does not publish any financial
statements. |
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We have contacted a receptionist who verified the company's
headquartered and transferred us to the accountant dept; We got an answering
machine. Our agent left a voice mail but we didn't get a callback yet. |
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However our financial sources could provide us with the following
data. Those figures are estimates provided by confidential banking and
financial institutions working with the company. |
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Currency |
DATE |
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USD |
Jan 29, 2011 (Consolidated from mother
company) |
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Turnover |
18,391,000,000 |
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Operating Income |
1,914,000,000 |
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Net Income |
1,114,000,000 |
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Current Assets |
5,645,000,000 |
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Fixed Assets |
8,102,000,000 |
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Net worth |
8,102,000,000 |
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Liabilities |
2,710,000,000 |
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The cash flow is |
Normal |
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Currency |
DATE |
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USD |
2008 |
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Turnover |
16.4 BN |
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Operating Income |
1.5 BN |
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Net Income |
885 M |
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Current Assets |
3.7 BN |
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Net worth |
6.7 BN |
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Liabilities |
1.8 BN |
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The cash flow is |
20 |
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Legal Fillings |
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There
are 1000 UCC files listed with the Secretary of State of Delaware. There were 21 law suits found against the
company, including: L.A. Printex Industries, Inc. v. KWDZ
Manufacturing, LLC et al Filed: March 29, 2011 as 2:2011cv02633
Updated: April 26, 2011 17:06:18 Plaintiff: L.A. Printex Industries,
Inc.Defendants: Does, Kohls Department Stores, Inc., KWDZ Manufacturing, LLC,
Matrix International Textiles, Inc. and Pacific Continental Textiles, Inc. Golden v. Kohls Department Stores Inc Filed: December 1, 2010 as 5:2010cv01290
Updated: December 2, 2010 01:24:05 Plaintiff: Linda K Golden Defendant: Kohls
Department Stores IncPresiding Judge: Stephen P. Friot Cause Of Action: Job Discrimination (Race) Wilson v. Merchants & Medical Credit
Corporation, Inc. et al Filed: November 15, 2010 as 3:2010cv05837
Updated: November 15, 2010 23:35:08 Plaintiff: Stephanie Wilson Defendants: Kohls Department Stores, Inc.
and Merchants & Medical Credit Corporation, Inc. Cause Of Action: Fair Debt Collection Act Rubloff Algonquin Portfolio, L.L.C. v.
Kohl's Department Stores, Inc. Filed: November 2, 2010 as 3:2010cv50286
Updated: November 2, 2010 21:22:11 Plaintiff: Rubloff Algonquin Portfolio,
L.L.C. Defendants: Kohl's Department Stores, Inc.
and Kohls Illinois, Inc. Presiding Judge: Philip G. Reinhard Referring Judge: P. Michael Mahoney Cause Of Action: Diversity-Contract
Dispute Elizabeth Rich v. Kohls Department Stores
Inc et al Filed: October 12, 2010 as 8:2010cv01542
Updated: January 4, 2011 22:45:18 Plaintiff: Elizabeth RichDefendants: DOES
and Kohls Department Stores IncPresiding Judge: Josephine Staton Tucker Referring Judge: Marc L. Goldman Filed: August 20, 2010 as 2:2010cv06252
Updated: November 12, 2010 23:40:48 Plaintiff: Referring Judge: Ralph Zarefsky THE COMPANY IS NOT LISTED ON THE OFAC
LIST.* For information: * The Specially Designated Nationals (SDN)
List is a publication of OFAC which lists individuals and organizations with whom
United States citizens and permanent residents are prohibited from doing
business. ** The Uniform Commercial Code (UCC) is
one of a number of uniform acts that have been promulgated in conjunction
with efforts to harmonize the law of sales and other commercial transactions
in all 50 states within the United States of America. The UCC deals primarily with transactions
involving personal property (movable property), not real property (immovable
property). It allows a creditor to notify other creditors
about a debtor’s assets used as collateral for a secured transaction by
filing a public notice (financing statement) with a particular filing office.
The Uniform Commercial Code Bureau files
and maintains on financial obligations (including IRS liens) incurred by
individuals (in business as a sole proprietor), business entities and
corporations. |
Rating
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Local credit bureau gave a Correct credit
rate. The company is in Good Standing. This means
that all local and federal taxes were paid on due date. |
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Final Opinion |
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This company has been in business for 25
years. It has a staff of 29,000 employees at group level which makes it a
large sized company. There were several legal filings found
against the company, suing Job discrimination or Fair Debt Collection among
others. The company is wholly own subsidiary of
Kohl's Corp. (NYSE:KSS) We've contacted the company but we were
unable to get any financial information. Therefore we gathered the financial
information from its mother company. Although the company had several pending
lawsuits; it gave a correct profitability for the year 2010. In addition,
indebtedness is controlled and cash flow is normal. To fully secure the credit line granted,
we suggest calling the parent company as a guarantor. A credit line may be considered for USD
500,000 |
SUMMARY
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Profitability |
CORRECT |
Public Records |
YES |
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Indebtedness |
CONTROLLED |
Payments |
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Cash |
NORMAL |
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APPENDIX
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Person Interviewed |
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Receptionist |
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Comments |
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She verified the company's headquartered and transferred us to the accountant
dept; We got an answering machine. Our agent left a voice mail but we didn't
get a callback yet. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.57 |
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UK Pound |
1 |
Rs.73.58 |
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Euro |
1 |
Rs.66.23 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.