Kohl's & Dillards'

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FINANCIAL ACCOUNTING

Kohl’s Corporation and Dillard’s Inc. – Financial Statement Analysis

A.

Kohl’s Corporation and Dillard’s Inc. are in the retail industry which is a highly competitive industry. There are a high number of retail stores, department stores which compete between each other on local, regional and national level. That competitiveness is highly influencing operating results of the company.

The importance of the retail industry emphasizes the sentence below:

“An estimated two-thirds of the U.S. gross domestic product (GDP) comes from retail consumption. Therefore, store closings and openings are an indicator of how well the U.S. economy is recovering after the Great Recession in the late 2000's.”[1]
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| Loss on disposal on assets |-0.2% |-0.2% |0.0% |
| Asset impairment and store closing charges |0.3% |0.0% |0.8% |
|Operating Income |2.1% |4.4% |3.0% |
|Other expenses interest |1.2% |1.1% |1.4% |
|Income before income taxes |0.8% |3.3% |1.6% |
|Provision for income taxes |0.2% |0.3% |0.2% |
|Equity of earning in joint ventures |0.1% |0.2% |0.1% |
|Net income |0.7% |3.1% |1.6% |

KOHL’S CORPORATION COMMON – SIZED BALANCE SHEET

|Current Assets | Feb 2, 2008 | Feb 3, 2007 | Jan 28, 2006 |
| | | | | |
| |Cash |1.7%
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