Kohl's narrows losses, boosts cash via $129M settlement; new secured debt, tariff uncertainty loom

Filed March 19, 2026 · Period ending January 31, 2026 · Compared to 10-K Mar 20, 2025 · ~2 min read

Key Changes

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  Net income more than doubled to $272M ($2.38/share) vs $109M prior year, driven by $129M legal settlement gain and improved inventory management. Operating cash flow surged to $1.4B from $648M.

  MD&A: Financial Results verify on EDGAR →
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  Issued $360M of 10% senior secured notes due 2030, backed by eleven distribution/fulfillment centers—first secured debt issuance disclosed. Moody's downgraded to B3; S&P to B+.

  Notes: Debt & Credit Ratings verify on EDGAR →
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  Supreme Court struck down certain IEEPA tariffs (potential refunds uncertain); new global tariffs up to 15% announced under Section 122. Company evaluating impact on future costs and liquidity.

  Risk Factors & MD&A: Tariffs verify on EDGAR →