THE WHAT? Kohl’s has reported its results for the final quarter and full year of fiscal 2021. In the 12 months ended January 29, 2022, the department store chain saw revenue rise 21.8 percent to US$19,433 million.

THE DETAILS Adjusted diluted earnings per share eclipsed a previous high in 2018, hitting a record US$7.33 per share.

For the full year 2022, the company is expecting net sales to increase 2 to 3 percent and earnings per share to be in the range of US$7 to US$7.50, excluding any non-recurring charges.

THE WHY? Michelle Gass, CEO, commented,“In 2021, we delivered all-time record earnings per share, significantly ahead of our expectations. Our operating margin of 8.6 percent exceeded our 2023 goal two years ahead of plan, a direct result of our efforts to restructure the business to be more profitable. We remain extremely confident in the future growth and cash flow generation of our business and in 2022 will build on our momentum as we further scale key initiatives such as Sephora.”