For the first quarter ended May 3, 2003, total sales were up 13.2% over the quarter ended May 4, 2002. On a comparable store basis, sales for the fiscal quarter decreased 2.4%.

Larry Montgomery, Chairman and CEO of Kohl’s Corporation, stated that, “While we had a very late start on the selling of spring apparel, we are pleased with the liquidation of clearance. With more normal temperatures arriving in the majority of our markets for the last week, we did see a positive change in sales trend for the final week of the quarter.”

Mr. Montgomery went on to say, “During the quarter, we successfully opened 35 new stores, including our entries into Southern California and San Antonio. We are very pleased with the sales performance of these new stores.”

In reviewing the total sales increase for the quarter, it’s important to note that the timing of opening new stores in 2003 is significantly different than 2002. Kohl’s opened 28 new stores in March this year compared to 12 in March last year. In April, the company opened 7 additional stores compared to 26 in April of 2002. In total, Kohl’s opened 35 new stores in the first quarter of 2003 compared to 38 in the first quarter of 2002. This fall, Kohl’s will open approximately 45 new stores compared with 37 stores in the fall of 2002.

As a result of the Company’s comparable store sales performance, first quarter earnings are expected to be approximately $0.32 per share.

                                 Sales Summary
                                ($ in millions)

          Fiscal Period Ended  % Inc. - This Year  % Inc. - Last Year
          -------------------  ------------------  ------------------ 

            May 3,     May 4,       All      Stores    All     Comp
             2003       2002       Stores     2003   Stores   Stores
          ---------- ----------- ---------- -------- ------- --------

April        $718.0      $679.0        5.8%   (4.1)%   24.6%     5.3%
 Quarter   $2,117.7    $1,870.6       13.2%   (2.4)%   25.7%     9.1%

Kohl’s opened 7 stores on April 11th, including an initial entry into the San Antonio market with 3 stores; and a store each in Kalamazoo, MI; West Springfield, MA; Hooksett, NH; and Doylestown, PA.

Kohl’s will open approximately 45 stores in the fall, including entries into Phoenix, AZ with 10 stores, Tucson, AZ with two stores, Flagstaff, AZ with one store, and Las Vegas, NV with three stores. In total, the Company plans to open approximately 80 stores in fiscal 2003.

At May 3, 2003, the Company operated 492 stores in 34 states compared with 420 stores in 32 states at the same time last year.