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Financial Statement Analysis - Kohls

Kohl's Corp. lists the following table in its 2011 Annual Report:

In millions 2011 2010 2009
Net sales $18,804 $18,391 $17,178

Number of stores open at end of period 1,127 1,089 1,058
Sales growth:
All stores 2.2% 7.1% 4.8%
Comparable stores 0.5% 4.4% 0.4%
Net sales per selling square foot $220 $222 $217

Required:
a. What is Kohl's growth rate of net sales in 2011?
b. What is Kohl's organic sales growth?
c. How does this information impact your assessment of Kohl's revenue growth and profitability?

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Delicate Designs Corp. anticipates that sales in 2013 will grow by 4%. The company reports the following in its December 2012 financial statements:

Sales $87,471.9
Property plant and equipment, net, Dec. 31, 2012 $8,125.2
Property plant and equipment, net, Dec. 31, 2011 $5,852.8
2012 Depreciation expense 491.6
2012 Capital expenditures on PP&E 2,186.8

Required:
Project the company's 2013 sales and net PP&E on Dec. 31, 2013.

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Describe the full projection of financial statements and the parsimonious method.

Compare the two methods.

When is one preferable to the other?

Solution Summary

The expert examines financial statement analysis for Kohls.

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