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. Today, we have 128 stores in California (the most of any state) and as of October 2012, we are operating 1,146 stores in 49 states.
In 2012, we opened 20 new stores in 16 states. Among those 20 new stores, 15 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 to focus our expansion efforts on value-add opportunities in new markets, as well as completing our location strategy for our existing markets.
Maximizing Existing Portfolio
- Disposition of excess space
- Renegotiating leases
- Rightsizing initiative
- Facilitating solutions with our business partners to aid in solving Real Estate related issues (i.e. CAM disputes, 3rd party Approval Requests, etc.)
With the 2008 recession, Real Estate was required to change how we did business on a day to day basis. While we are still actively growing our brand through opening new store locations, our department quickly adapted to change and began focusing on our existing portfolio.
In 2011, Kohl's created a sub-department within the Real Estate department that's primary focus is on managing and maximizing the value of our EXISTING portfolio through the following focus areas: