KOHLS Corp

Kohl's Corporation announced significant changes to its Board of Directors. John E. Schlifske retired as independent Chair and from the Board for personal reasons. Wendy Arlin, a current independent director, was appointed to succeed him as Chair. Additionally, Niren Chaudhary, former CEO and Chair of Panera Brands, was appointed as a new director, filling the vacancy created by Mr. Schlifske's retirement. Mr. Chaudhary will serve on the Audit Committee and will receive an equity award of restricted shares.

Kohl's Corporation entered into Amendment No. 2 to its Revolving Credit Facility, extending the maturity date by five years to June 30, 2031. The amendment modifies the Applicable Margin pricing grid, replacing previous availability breakpoints with a single 50% breakpoint and adjusting rates for Base Rate and SOFR Loans. Additionally, the borrowing base now includes an in-transit inventory basket, allowing for the inclusion of eligible inventory up to 15% of the total borrowing base value.

Kohl's Corporation announced the appointment of Elliott Rodgers as its new Chief Operating Officer, effective September 9, 2026. Rodgers, aged 50, brings over 20 years of leadership experience from companies like Foot Locker, Inc., project44, Ulta Beauty, Inc., and Target Corporation. In his new role, he will be responsible for Kohl's enterprise operations, including stores, supply chain, distribution centers, procurement, and loss prevention. His compensation package includes an annual salary of $900,000, a $400,000 signing incentive, and eligibility for annual and long-term incentive programs with significant targets.

Kohls Corp (KSS) filed its 10-Q for the quarter ended May 2, 2026, reporting a net loss of $14 million, or $0.13 per diluted share, which was flat compared to the prior year. Net sales saw a slight decrease of 1.7% to $3.0 billion, with comparable sales down 1.1%. The company reported an increase in gross margin to 39.9% and a decrease in SG&A expenses. Operating income declined year-over-year. The company also announced a quarterly cash dividend of $0.125 per share.

Kohl's Corporation reported its first-quarter fiscal 2026 results, with net sales decreasing 1.7% to $2.998 billion and comparable sales down 1.1%. The company posted a diluted loss per share of ($0.13), consistent with the prior year. Despite the sales decline, Kohl's achieved its best comparable sales performance in over four years, improved its gross margin by 4 basis points, and affirmed its full-year 2026 financial outlook. The Board also declared a quarterly cash dividend of $0.125 per share.

Kohl's shareholders approved the amended and restated 2024 Long-Term Compensation Plan, which significantly increases the number of authorized shares for issuance by 5,200,000, bringing the total to 12,850,000, in addition to 4,785,851 unused shares. The plan's term was also extended by ten years to May 20, 2036, and a $750,000 annual compensation limit for non-employee directors was established. Furthermore, shareholders re-elected all eight director nominees, approved the compensation of named executive officers, and ratified Ernst & Young LLP as the independent registered public accounting firm.

Kohl's Corporation declared a quarterly cash dividend of $0.125 per share, payable on June 24, 2026, to shareholders of record on June 10, 2026. Additionally, the company held its Annual Meeting of Shareholders, where all director nominees were elected, executive compensation was approved on an advisory basis, Ernst & Young LLP was ratified as the independent auditor, and the 2024 Long-Term Compensation Plan was approved.