Kohl’s(KSS) - 2024 Q4 - Annual Results

Financial Performance - Fourth quarter net sales decreased 1.1% year-over-year to $5.7 billion, while fiscal year 2023 net sales decreased 3.4$16.6 billion[4] - Comparable sales for the fourth quarter decreased 4.3%, and for the fiscal year 2023, comparable sales decreased 4.7%[5] - Gross margin as a percentage of net sales increased by 937 basis points to 32.4% in the fourth quarter, and for the fiscal year, it increased by 347 basis points to 36.7%[5] - Operating income for the fourth quarter was $299 million, compared to a loss of$302 million in the prior year, representing an increase of 1,005 basis points[5] - Net income for the fourth quarter was $186 million, or$1.67 per diluted share, compared to a net loss of $273 million, or ($2.49) per diluted share in the prior year[5] - Operating cash flow for the fourth quarter was $789 million, and for the fiscal year 2023, it was$1.2 billion[4] Inventory Management - Inventory at year-end was $2.9 billion, reflecting a decrease of 10$0.50 per share, payable on April 3, 2024[9]