kohls corp (KSS) Key Developments
Kohl's To Sell Woodland Prime Office Building
Sep 8 14
Kohl's Corp. (NYSE:KSS) is looking to sell an office building at Woodland Prime. Robert Flood, partner in RFP Commercial, said the building is available for lease or sale, but a sale to an owner-occupant is preferred. “We are marketing what will be an empty building. We’re opportunistic. I think we would prefer to sell it," Robert Flood added.
Kohl's Corp. Announces Resignation of Peggy Eskenasi as Sr. Executive Vice President, with Effective from September 12, 2014
Aug 26 14
On August 25, 2014, Peggy Eskenasi resigned from her position as Sr. Executive Vice President, Product Development of Kohl's Corporation to accept a position with a private equity firm in New York. Her last day with the company will be September 12, 2014.
Kohl's Corporation Approves Amendment to the Amended and Restated Bylaws
Aug 15 14
on August 12, 2014, the board of directors of Kohl's Corporation approved and adopted an amendment to the company's amended and restated bylaws, which became effective the same day. The amendments to the Bylaws add a new Article IX thereto, which provides, unless the company consents in writing to the selection of an alternative forum, the sole and exclusive forum for any derivative action or proceeding brought on behalf of the company, any action asserting a claim of breach of a fiduciary duty owed by any director, officer or other employee or agent of the company to the company or the company's shareholders, any action asserting a claim arising pursuant to any provision of the Wisconsin Business Corporation Law or the company's articles of incorporation or bylaws, or any action asserting a claim governed by the internal affairs doctrine shall be the Circuit Court for Waukesha County, Wisconsin or U.S. District Court for the Eastern District of Wisconsin - Milwaukee Division, in all cases subject to such court's having personal jurisdiction over the indispensable parties named as defendants. The new Article IX further provides that any person or entity purchasing or otherwise acquiring any interest in shares of capital stock of the Company shall be deemed to have notice of and consented to the foregoing provisions.
Kohl's Corp. Declares Quarterly Dividend, Payable on September 24, 2014
Aug 14 14
Kohl's Corp. Board of Directors declared a quarterly dividend of $0.39 per common share. The dividend will be paid on September 24, 2014 to all shareholders of record at the close of business on September 10, 2014.
Kohl's Corp. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended August 2, 2014
Aug 14 14
Kohl's Corp. reported unaudited consolidated earnings results for the second quarter and six months ended August 2, 2014. For the quarter, the company reported net sales of $4,242 million compared to $4,289 million for the same period a year ago. Operating income was $451 million compared to $451 million for the same period a year ago. Income before income taxes was $366 million compared to $367 million for the same period a year ago. Net income was $232 million or $1.13 per diluted share compared to $231 million or $1.04 per diluted share for the same period a year ago. Sales from stores open at least a year were down 1.3% compared with the same quarter last year.
For the six months, the company reported net sales of $8,312 million compared to $8,488 million for the same period a year ago. Operating income was $731 million compared to $768 million for the same period a year ago. Income before income taxes was $561 million compared to $601 million for the same period a year ago. Net income was $357 million or $1.73 per diluted share compared to $378 million or $1.70 per diluted share for the same period a year ago. Net cash provided by operating activities was $730 million compared to $762 million for the same period a year ago. Acquisition of property and equipment was of $374 million compared to $284 million for the same period a year ago.