Kohl’s Mails Definitive Proxy and Sends Letter to Shareholders

Kohl’s Corporation (NYSE:KSS) (“Kohl’s” or the “Company”) today mailed definitive proxy materials previously filed with the Securities and Exchange Commission (“SEC”) in connection with the Company’s Annual Meeting of Shareholders (the “Annual Meeting”), which is scheduled to be held on May 11, 2022. Kohl’s shareholders of record as of the close of business on March 7, 2022 will be entitled to vote at the Annual Meeting.

In conjunction with the definitive proxy mailing, Kohl’s is providing the following letter from the Company’s Board of Directors to shareholders:

PROTECT THE VALUE OF YOUR INVESTMENT IN KOHL’S – VOTE THE BLUE PROXY CARD TODAY FOR ALL OF KOHL’S HIGHLY QUALIFIED DIRECTOR NOMINEES

Dear Fellow Shareholder:

Your Board and management team are creating significant value. Since the announcement of our new strategy in October 2020, we have made substantial progress in transforming our business and positioning the Company for long-term success. Total shareholder returns over this timeframe have been 146% through January 21, 2022, significantly outperforming the SPDR S&P Retail ETF and the S&P 500.1

Our growth strategy, which we have outlined in this letter, will allow us to drive sustainable and profitable growth and continue to return substantial capital to shareholders. We are already delivering results, as demonstrated by our 2021 performance that included a strong operating margin and record earnings per share.

To ensure we are maximizing shareholder value, your Board is reviewing alternatives through an intentional and ongoing dialog with potential bidders. This process is robust and will be measured against the value creation potential of our compelling standalone plan. Regardless of the outcome of this process, we are excited about the many opportunities ahead for Kohl’s.

The Kohl’s Board is well equipped to protect and grow the value of your investment. Your Board is recently refreshed and has industry-leading experience in areas critical to our business, including e-commerce, retail, apparel, technology, as well as M&A expertise, ensuring that our approach with potential bidders yields optimal results. Importantly, your Board is committed to challenging and supporting the Kohl’s management team as we pursue our strategy, with the goal of delivering value for shareholders.
more at: https://investors.kohls.com/news-releases/news-details/2022/Kohls-Mails-Definitive-Proxy-and-Sends-Letter-to-Shareholders/default.aspx

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