The foundation of our expansion strategy is to achieve profitable growth. At the time of our initial public offering in 1992 we had 79 stores, all of which were in the Midwest. In 2003 we opened 28 stores in California, giving us a coast-to-coast presence for the first time. In 2005 we entered the Southeast, and in 2006 we brought the Kohl's experience to the Northwest. That year we opened 10 new stores in Oregon and Washington. In 2007 we opened a record 112 new stores. In 2008 we celebrated opening 75 new stores, including our 1,000th store and 43 stores in Florida. As of March 2014, we are operating 1,160 stores in 49 states.
In 2013 we opened 12 new stores in 10 states. Among those 12 new stores, nine were built according to a prototype that received Leadership in Energy and Environmental Design (LEED) certification at the gold level from the U.S. Green Building Council. To learn more about LEED & Sustainable Design and the Kohl's Green Scene initiative, please visit www.KohlsGreenScene.com.
We continue focusing our expansion efforts on value-add opportunities in new markets, as well as completing our location strategy for our existing markets.
Maximizing Existing Portfolio
Our Team proactively manages and maximizes the value of our EXISTING portfolio through the following focus areas:
- Lease Negotiations
- Rightsizing Initiatives
- Remodel Partnerships
- Surplus Property
- Approval Meetings