Kohls 4Q15 Earnings Call Notes

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Kevin Mansell – Chairman, President & Chief Executive Officer

It’s unlikely we’ll achieve our sales goals due to a difficult environment

“for many reasons, including a difficult macroeconomic and retail environment, it’s unlikely we’ll achieve our sales goal on the timeline we had originally set, though I do believe we’ll achieve that goal within a short time after.”

We need to embrace the evolving behaviors of our customers

“It’s clear, though, that we need to move at greater speed and agility, accelerate plan changes in our business model more quickly, and focus our resources on the most productive assets and projects while moving away from those that are not delivering results. We need to embrace the evolving behaviors of our customers and take actions to support the long-term health and success of our business.”

Combining ecommerce and brick and mortar buying teams was important step

“one of the big changes that we made this year, we alluded to it in the call, was the decision to reorganize our buying and planning structure and essentially bring together our e-com buying and planning teams with our brick-and-mortar buying and planning teams. And while at the time that we built a separate e-com team, it made sense for us because it was a small, but growing business, today it’s a very big business. But most importantly, from a customer’s perspective, she sees this through one lens. So we know that we need one view of the customer, and the way to achieve that is through one organization long term.’