Included in the coming openings is the company's first unit in Wyoming, in Cheyenne. Additionally, the retailer is entering other new markets, which include Panama City and West Palm Beach, FL.; Abilene, TX; and Spokane, WA.
Due to the store growth, remodels and upgrades in technology and merchandise, Kohl's will spend between $1.6 billion and $1.7 billion annually on capital expenditures through 2012. At the same time, management expects same-store sales to grow between 2% and 4% year over year through 2012.
The company is coming off a second-quarter same-store sales gain of 1.6% year over year. During that period, which ended Aug. 4, net income rose 15.9%, to $269.2 million and net sales were up 8.7%, hitting $3.6 billion.
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