Kohl’s To Open New Distribution Center To Support E-Commerce Growth
Kohl’s Department Stores (NYSE:KSS) announced today that it has come into a purchase agreement to develop a new e-commerce distribution center located in DeSoto, Texas. The center expected to open this year, upon completion the approximately 951000 square-foot building will fulfill Kohls.com purchases. Kohl’s will close on the agreement once the building process is complete. Kohl’s plans to hire more than 200 full time associates when the facility opens in summer 2012. Ken Bonning, Kohl’s executive vice president of store planning and logistics said, “We are committed to delivering on our promise to ‘expect great things.’ This new facility will ensure that Kohl’s is able to accommodate the tremendous growth of our Kohls.com business. We currently operate 84 stores in Texas, and are pleased to expand our presence with this new facility. We anticipate creating approximately 400 jobs for the community in a phased approach over the next 3 years.” Kohl’s (NYSE:KSS) has potential upside of 28.4% based on a current price of .5 and an average consensus analyst price target of .