Kohl’s October Comps Drop 11.6%

Kohl's Corporation sales for the four week period ended November 1, 2003 increased 2.9% over the four week period ended November 2, 2002. On a comparable store basis, sales decreased 11.6%.

For the quarter ended November 1, 2003, total sales increased 11.7% while comparable store sales decreased 1.3%. For the 39 weeks ended November 1, 2003, total sales were up 13.2% while comparable store sales decreased 1.0%.

Larry Montgomery, Chief Executive Officer, commented, “Our 11.6% decline in comparable store sales compares to an 18.3% comparable store sales increase a year ago. The strong increase last year was driven by significant increases in seasonal classifications. These classifications experienced significant declines this year.”

Mr. Montgomery went on to say, “We did take deeper markdowns in the quarter in Women's apparel to be appropriately positioned for the holiday season. As a result of these markdowns and the disappointing comparable store sales performance, third quarter earnings are expected to be approximately $0.35 per share. Our inventory is well positioned going into the fourth quarter.”

                                  Sales Summary
                                 ($ in millions)

           Fiscal Period Ended  % Inc. - This Year  % Inc. - Last Year
           -------------------  ------------------  ------------------
         November 1,  November 2,   All     Comp       All     Comp
                                   ------  ------     ------  ------
            2003         2002      Stores  Stores     Stores  Stores
           -----------------------------------------------------------

October      $823.1       $799.7     2.9%  -11.6%      38.4%   18.3%
Third
 Quarter   $2,394.0     $2,143.4    11.7%   -1.3%      21.8%    5.9%
Year-to
 Date      $6,720.2     $5,935.8    13.2%   -1.0%      24.6%    8.1%

Kohl's opened 48 stores during the month of October. The Company entered the Phoenix, AZ market with 10 stores, the Little Rock, AR market with three stores, the Las Vegas, NV market with three stores, the Birmingham, AL market with two stores, the Tucson, AZ market with two stores and the Flagstaff, AZ market with one store. In addition, the Company added 10 stores in the Midwest Region, five stores in the Mid-Atlantic region, five stores in the Northeast region, three stores in the Southeast region, two stores in the South central region, and two stores in the Southwest region.