"Seeing the changes in the current competitive landscape, we have made adjustments to our expansion plan to take advantage of real estate opportunities that might present themselves," said Larry Montgomery, Kohl's chairman and CEO, in a statement. "We expect much of this to come together over the next six to nine months."

This year the company is on schedule to open 95 units. In 2006 and 2007 Kohl's officials will add a total of 200 stores and enter the Northwest, including the Seattle and Portland, OR markets.

Over the next five years, executives also expect annual sales to more than double, rising from $11.7 billion last year to $24 billion in 2010. Net income, at $703 million last year, is expected to rise to $1.9 billion.