July Comps Drop 4.2% at Kohl’s

Kohl's Corporation sales for the four-week period ended July 31, 2004 increased 10 percent over the four-week period ended August 2, 2003. On a comparable store basis, sales decreased 4.2 percent.

For the second quarter ended July 31, 2004, total sales increased 13 percent while comparable store sales decreased 1.2 percent. For the 26 weeks ended July 31, 2004, total sales were up 12.7 percent over the 26 weeks ended August 2, 2003. On a comparable store basis, sales for the 26 weeks decreased 0.6 percent.

The Company now expects its second quarter earnings to be $0.44 to $0.45 per diluted share, above the current First Call consensus of $0.43 per diluted share.

                                      Sales Summary
                                     ($ in millions)
                     Fiscal Period Ended       % Inc.  -  This Year
                     -------------------       --------------------
                    July 31,    August 2,        All          Comp
                     2004         2003          Stores       Stores
                     ----         ----          ------       ------

July                 $  770.7     $  700.8       10.0%       -4.2%
Second Quarter       $2,496.2     $2,208.5       13.0%       -1.2%
Year-to Date         $4,876.4     $4,326.2       12.7%       -0.6%