Delivery Time Across the Nation Averages 2.5 Days

Kohl’s Corporation provided the following update regarding the Board of Directors’ ongoing review of expressions of interest in acquiring the Company. The Board acknowledged receipt of multiple preliminary indications of interest. The proposals received are non-binding and without committed financing. The Board has authorized Goldman Sachs to coordinate with select bidders who have submitted indications of interest to assist with further due diligence so that they have the opportunity to refine and improve their proposals and include committed financing and binding documentation.

Over more than six months of extreme disruption, the nation’s independent bookstores have steadily grown their businesses beyond their four walls. A PW survey of three dozen indies nationwide found most offering some combination of online sales, curbside pickup, home delivery, outdoor browsing, and in-store shopping. The diversity of sales channels reflects a substantial expansion of retail customer service as they navigate evolving market conditions caused by Covid-19 and climate change. More than 80% of bookstores surveyed are now open for some form of limited in-store browsing, with appointments or other measures to ensure that they abide by state capacity guidelines. Of the shops that are not open to in-store browsing, all have online ordering and most are offering curbside pickup and outdoor browsing. That level of customer service reflects an unparalleled modernization of independent bookselling, but the question on the minds of booksellers is whether their efforts will be enough to combat forces beyond their control.

FY23 third quarter service performance scores covering April 1 through April 21, included: *First-Class Mail: 91.6% of First-Class Mail delivered on time against the USPS service standard, consistent with performance from the fiscal second quarter. *Marketing Mail: 95.8% of Marketing Mail delivered on time against the USPS service standard, an increase of 1.2 percentage points from the fiscal second quarter. *Periodicals: 87.9% of Periodicals delivered on time against the USPS service standard, an increase of 1.4 percentage points from the fiscal second quarter.