Kohl's History: Founding, Timeline, and Milestones - Zippia (2024)

When the United States Supreme Court found that BAT was a monopoly, it compelled American Tobacco to annul its territorial agreement with Imperial and divest its interest in BAT. Imperial kept its 33 percent interest in the company until 1972.

Herb Kohl left the management in 1979, eventually becoming a United States Senator and owner of the Milwaukee Bucks.

The grocery stores were sold to A&P in 1983, operating under the name Kohl's Food Store, and later Kohl's Food Emporium.

A group of investors, led by the senior management, purchased the company in 1986.

Kohl’s most impressive growth spurt began in 1988, when management and The Morgan Stanley Leveraged Equity Fund II, L.P. formed Kohl’s Corporation and acquired Kohl’s Department Stores.

Completed in 1993, it encouraged higher productivity and lower turnaround time, and allowed vendors to send advance ship notices electronically and to pre-ticket merchandise.

The chain added Iowa and South Dakota to its roster in 1993 and opened 11 new stores.

Continuing its expansion, Kohl's opened 18 new stores in 1994, and 22 each in the following two years.

Kohl's also continued to tinker with its store format, completing its phaseout of electronics in 1995.

Also in early 1999 came the purchase of 33 stores previously operated by bankrupt Caldor Corporation.

To support its westward expansion, Kohl's in 1999 was building a fourth distribution center, a 542,000-square-foot facility in Blue Springs, Missouri, to handle 80 to 100 stores and to service units in Colorado, Texas, Kansas, Missouri, Nebraska, and central Iowa.

In 2000 the company opened 60 more stores and entered several new markets, particularly in the Northeast, including Connecticut, New Jersey, the New York metropolitan area, and Oklahoma.

Kohls.com launched in 2001, giving Kohl’s an online presence that has grown and evolved over the years.

Of the 62 stores opened in 2001, more than a dozen blanketed the new market of Atlanta while other new markets included Oklahoma City, Austin, Fayetteville, and El Paso.

In February 2003, A&P put the Kohl's Food Stores up for sale, as part of an effort to reduce debt.

Heads into Florida As Part of 95-Store Expansion," Milwaukee Journal Sentinel, November 12, 2004.

The turnaround efforts began to pay off in 2004 as same-store sales were up 0.3 percent, and net income was a record $730 million on $11.7 billion in revenues.

To raise money to repurchase its stock and open new stores, Kohl's sold its credit card division in 2006 to J.P. Morgan Chase for $1.5 billion.

Kohl's hired New York City advertising agency DeVito/Verdi in 2009 to strengthen the Kohl's brand via a series of national television, online, and social media campaigns.

In 2011, Kohl's replaced Chase with Capital One as their private credit card processing partner for an undisclosed sum.

Kohl's was awarded $62.5 million in tax credits from the Wisconsin Economic Development Corporation in 2012.

In 2015, the company opened the first test store of Off/Aisle, a chain built around selling like-new clothing, home goods, jewelry, and accessories that were purchased and returned at Kohl's stores.

In early January 2017, Kohl's shares fell 19% in value, in what The Wall Street Journal said was "the stock's worst day on record," and noted that it was a noticeable exception to the overall declining volatility of the market.

In 2018, Kohl's announced a pilot program to lease space to grocer Aldi and, the following year, to fitness center Planet Fitness, alongside up to 10 stores each.

In that year, Kohl's entered into a partnership with Amazon, which included a program where select stores would accept Amazon returns; in 2019 it was expanded nationwide.

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