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Kohl's Corporation

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Estimates have been stable lately ahead of Kohl' second quarter earnings release. Though we are impressed with Kohl’s continuous efforts to improve its base business, Kohl’s Corporation’s turnaround initiative named “Greatness Agenda” is showing weakness of late. The initiative, which began in the first quarter of 2014, was designed to increase transactions per store and sales. This initiative is leading to positive comps but the rate of growth in each quarter is declining, which remains a concern over the near term. Moreover, lower spending on apparel and accessories and a general slowdown in consumer spending is hurting sales at department stores. Declining gross margin also remains a concern.

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