Exhibit 99.1

KOHL'S CORPORATION REPORTS

SECOND QUARTER FINANCIAL RESULTS

MENOMONEE FALLS, WI … August 9/BUSINESS WIRE/Kohl’s Corporation (NYSE:KSS). Kohl’s Corporation today reported results for the quarter ended July 28, 2012.

Kohl’s Corporation reported second quarter net income of $240 million ($1.00 per diluted share) compared to $299 million ($1.08 per diluted share) a year ago.  Net sales were $4.2 billion, a decrease of 1.0 percent for the quarter.  Comparable store sales for the quarter decreased 2.7 percent.

Year to date, net income was $394 million ($1.63 per diluted share) compared to $500 million ($1.76 per diluted share) a year ago.  Net sales were $8.4 billion, an increase of 0.4 percent.  Year-to-date comparable store sales decreased 1.3 percent.

Kevin Mansell, Kohl’s chairman, president and chief executive officer, said, “Our sales performance in the second quarter was disappointing.  Our gross margin performance for the quarter, however, was better than expected.  Our teams remain disciplined in their expense management and, again, delivered solid results.  We accomplished our goal of improving inventory levels for the fall season and our sales improved considerably in July as units were received.  As we look forward to the fall season, we are excited about the fashion content and level of newness in our assortments.”

Quarterly Dividend Declared

On August 7, 2012, Kohl's Board of Directors declared a quarterly cash dividend on the Company's common stock of $0.32 per share.  The dividend is payable September 26, 2012 to shareholders of record at the close of business on September 5, 2012.  

Store Update

Kohl’s ended the quarter with 1,134 stores in 49 states, compared with 1,097 stores at the same time last year. During the first half of the year, the Company opened 9 new stores, including 1 relocated store, closed 1 store and completed 40 remodels. The company expects to open an additional 12 stores and complete an additional 10 remodels in September.

Earnings Guidance – Third Quarter

The Company provided initial guidance for the fiscal quarter ending October 27, 2012 of $0.83 to $0.89 per diluted share.  The guidance is based on total sales growth of 1 to 3 percent and comparable store sales growth of flat to 2 percent and includes expected third quarter share repurchases of $300 million.  After incorporating its second quarter results and third quarter outlook, the Company now expects to earn $4.50 to $4.65 per diluted share for fiscal 2012 versus its previous guidance of $4.75 per diluted share.

Second Quarter 2012 Earnings Conference Call

Kohl’s will host a second quarter earnings conference call at 8:30 am ET on August 9, 2012.  The phone number for the conference call is (706) 902-0486 and the conference ID is 14680638.  Replays of the call will be available for 30 days by dialing (855) 859-2056 or (404) 537-3406 and referencing Conference ID 14680638.  The conference call is also accessible via the Company's web site at http://www.kohlscorporation.com/InvestorRelations/event-calendar.htm.

Cautionary Statement Regarding Forward-Looking Information

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including guidance on the Company’s targeted earnings.  Kohl's intends forward-looking terminology such as “believes,” “expects,” “may,” “will,” “should,” “anticipates,” “plans,” or similar expressions to identify forward-looking statements.  Such statements are subject to certain risks and uncertainties, which could cause Kohl's actual results to differ materially from those anticipated by the forward-looking statements.  These risks and uncertainties include, but are not limited to, those described in Item 1A in Kohl’s Annual Report on Form 10-K, which is expressly incorporated herein by reference, and other factors as may periodically be described in Kohl's filings with the SEC.

About Kohl’s

Based in Menomonee Falls, Wis., Kohl’s (NYSE: KSS) is a family-focused, value-oriented specialty department store offering moderately priced, exclusive and national brand apparel, shoes, accessories, beauty and home products in an exciting shopping environment. With a commitment to environmental leadership, Kohl’s operates 1,134 stores in 49 states. In support of the communities it serves, Kohl’s has raised more than $208 million for children’s initiatives nationwide through its Kohl’s Cares® cause merchandise program, which operates under Kohl's Cares, LLC, a wholly-owned subsidiary of Kohl's Department Stores, Inc. For a list of store locations and information, or for the added convenience of shopping online, visit www.Kohls.com, or join the discussion on Facebook http://www.facebook.com/kohls or Twitter http://twitter.com/Kohls.

Investor Relations:  

Wes McDonald, Senior Executive Vice President and Chief Financial Officer, (262) 703-1893

Media:

Vicki Shamion, Senior Vice President – Public Relations, (262) 703-1464