Kohl's Corporation reported net sales for the third quarter increased to $2.4 billion from $2.1 billion a year ago, an increase of 11.7%. Comparable store sales declined 1.3%. Net income was $121.2 million or $0.35 per diluted
share, compared with $133.4 million or $0.39 per diluted share a year ago.

For the nine months ended November 1, 2003, net sales increased to
$6.7 billion from $5.9 billion for the nine months ended November 2,
2002. This reflects a 13.2% total increase while comparable store
sales declined 1.0%. Net income was $344.3 million or $1.00 per
diluted share, compared with $364.4 million or $1.06 per diluted share
a year ago.

The Company successfully opened 50 new stores during the quarter.
The Company entered the Phoenix, AZ market with ten 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 eleven stores in the Midwest region,
five stores in the Mid-Atlantic region, five stores in the Northeast
region, four stores in the Southeast region, two stores in the South
Central region, and two stores in the Southwest region.

The Company plans to open approximately 95 new stores in fiscal
2004. In the first quarter, the Company will open approximately 48
stores, split evenly between new market entries and fill-ins in
existing markets. New markets include Sacramento, San Diego and
Fresno, California and Memphis, Tennessee. The remaining new stores to
be opened in existing markets will be spread across all regions of the
country.

The Company now operates 542 stores compared with 457 stores at
the same time last year.

                              KOHL'S CORPORATION
                 CONDENSED CONSOLIDATED STATEMENTS OF INCOME
                     (In Millions, except per share data)
                                 (Unaudited)


                                          3 Months Ended
                              --------------------------------------
                                           % to                 % to
                              Nov. 1,       Net    Nov. 2,       Net
                                 2003      Sales     2002       Sales
                              --------------------------------------
Net sales                    $2,394.0             $2,143.4
Cost of merchandise sold      1,578.7     65.9%    1,399.1     65.3%
                             --------            ---------
Gross margin                    815.3     34.1%      744.3     34.7%

Operating expenses
Selling, general and
administrative                  524.0     21.9%      455.2     21.2%
Depreciation and amortization    59.9      2.5%       49.1      2.3%
Preopening expenses              20.8      0.9%       11.7      0.5%
                             --------            ---------
Operating income                210.6      8.8%      228.3     10.7%

Interest expense, net            15.8      0.7%       13.8      0.7%
                             --------            ---------
Income before income taxes      194.8      8.1%      214.5     10.0%
Provision for income taxes       73.6      3.0%       81.1      3.8%
                             --------            ---------
Net income                     $121.2      5.1%     $133.4      6.2%
                             ========            =========
  Basic net income per share    $0.36                $0.40

  Diluted net income per share  $0.35                $0.39