...Memo of Financial Analysis Sena Lopez ACC/291 December 9, 2014 Malinda Marsh INTERNAL MEMO TO: KOHL COMPANY FROM: SENA LOPEZ RE: FINDINGS FROM VERTICAL AND HORIZONTAL ANALYSIS DATE: 9TH DECEMBER 2014 I am writing to let you know the performance of the company (Kohl) as compared to its competitive company (J.C Penny) in the same industry. Horizontal analysis: This also known as a trend analysis is used to evaluate financial statements over a period. Its main purpose is to determine if an increase or decrease have occurred. Kohl’s current assets are less by 11.38% from $6370. The reported gross profit of kohl’s is ($7032) which is higher than a penny by 1.03%. The net sales of Kohl Company are $18391 which is higher than a penny by 3.56%. From the ratios trend, Kohl Company is in poor financial operation. Vertical analysis: This also known as the common-size analysis is used with the financial statement data in a percent base amount. Kohl Company has a low current ratio of 2.1 as compared to 2.4 of J.C Penny. The gross profit of Kohl Company is 38.2% which is lower by 1% as compared to J.C penny. The assets turnover of Kohl Company is slightly lower than that of J.C penny. In general Kohl, Company is performing poorly as compared to Penny Company. Liquidity ratios measure the ability of a company to meet the short – term obligations when they fall due. Short-term creditors such as bankers and suppliers are more interested in this information to access liquidity...
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...UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) x|Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended January 29, 2011| or |Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Transition period from to | Commission File No. 1-11084 KOHL’?S CORPORATION (Exact name of registrant as specified in its charter) | | | WISCONSIN| |39-1630919| (State or other jurisdiction ofincorporation or organization)| |(I.R.S. Employer Identification No.)| | | N56 W17000 Ridgewood Drive,Menomonee Falls, Wisconsin| |53051| (Address of principal executive offices)| |(Zip Code)| Registrant’?s telephone number, including area code (262) 703-7000 Securities registered pursuant to Section 12(b) of the Act: | | | Title of each class| |Name of each exchange on which registered| Common Stock, $.01 Par Value| |New York Stock Exchange| Securities registered pursuant to Section 12(g) of the Act:| |NONE| Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes X No . Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes No X . Indicate by check mark whether the registrant (1) has filed all reports required to...
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...The purpose of this report is to conduct a comprehensive business performance analysis using financial historical information/analysis of Costco. While Costco may not seem to have the revenue, assets and market share like similar and larger companies such as Wal-Mart and Target they are without a doubt a very profitable and successful company. What Costco lacks in high margins, they make up for in being a highly efficient company boasting high asset and equity turnover while maintaining optimum liabilities and debt to equity ratios. Costco is a great company that is seeing profitable success due to their business model that prioritizes quality for both its customers and employees. However, emerging with the 21st century are new ways of doing business. Online companies like Amazon.com are quickly taking market share not just from Costco but also their biggest competitors: Wal-Mart and Target. In order to stay relevant, Costco will need to maintain their business growth in the coming years and also find ways to compete against online retail giants like Amazon.com. 1. Company Background Costco is a multi-billion dollar warehouse company that operates on a global scale. Consumers can frequent Costco to find merchandise including but not limited to groceries, electronics, furniture and home goods, pharmaceuticals and gasoline. Costco specializes in purchasing its merchandise wholesale and re-selling to consumers. Consumers who frequent the warehouse club are required to pay...
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...Financial Analysis: Kohl’s May 6, 2016 WACC Calculation: a) Estimation of Cost of Debt: For the purpose of calculation of cost of debt for the company, we have used the most recent debt issued by the company. Referring to note 2 of the financial statements, we found that during July, 2015, the company issued $650 million of 4.25% notes due in July 2025 and $450 million of 5.55% notes due in July 2045. (Kohl's, 2015) Accordingly, we used the average coupon rate of these two recently issued bonds to represent the cost of debt in the WACC formula. OK – I’ll go with that. Average Coupon Rate: = (4.25+5.55)/2 = 4.90% Effective Tax Rate= Income Tax Expense/ Earnings before Tax = 384/1057 = 36.32% After Tax Cost of Debt= 0.0490*(1-0.3632) = 3.12% OK, good. Important to note, this after tax figure represent the cost of issuing bonds to the company. b) Estimation of Cost of Equity (CAPM Model) For the purpose of calculation of cost of equity, we relied on CAPM model as part of which, we used the risk-free rate for 10-year Treasury bill, while beta for the stock was sourced from Yahoo Finance. Additionally, and Market Premium was sourced from the database released by New York University. = Risk free rate+ beta (Market Premium) = 1.81+ 1.10(6) – I’d suggest 7%, but 6% is acceptable. = 8.41% We can go with this; however, and as I mentioned in the video, a 1-year T-bill rate is superior to a 10-year rate. The 1-year rate is about .50%. Using 7% as the premium and...
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... it focuses on this insatiable “hunger” for the newest trends and thus advertises their products to appeal to a wide variety of consumers. Tom Horton, a writer for The Baltimore Sun, helps put it in perspective in his article The Toll of American Materialism stating “For the record, Americans are five percent of Earth's population, consuming about thirty percent of the Earth's nonrenewable natural resources. If global trade actually enabled the other ninety five percent of the world to live the American dream, we'd need another five or so Earths to support it.” For Americans it is more important to obtain, maintain, and protect their material objects than it is to focus on developing and enjoying interpersonal relationships. L. Robert Kohls, a former direct of training for the U.S. Information Agency and the Meridian International Center in Washington D.C., in his article “The Values Americans Live By”, states the thirteen American values so that foreigners can understand the American culture and society. The 13th and final American value is...
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...| Kings and Queens Discount Clothing Store | BUSINESS PLAN | | Prepared By: Terrance Clayton | 5/6/2009 | Bus 4100 -01 Dr. Hamid Ali | INTRODUCTION Kings and Queens’s clothing story will care a combination of well known designers and popular brand names, as well as national and local department store label along with countless others in one shopping location all at a fraction of the original price! What separates Kings and Queens from other clothing stores is that we carry large selection of plus size and king size fashion. We also have a tailor and seamstress on site so our customers can get that perfect fit. Located in Chicago, Illinois on the Westside, Kings and Queens will pride itself on selecting only the best quality merchandise at discount prices. By buying up manufactures’ overstock, post- season, and close out stock. Kings and Queens are able to offer fashionable, high quality designer items at 25% - 50% less than those of the department stores. Kings and Queens also have discount sales on their already low prices everyday! Stop by and see what you are missing! EXECUTIVE SUMMARY Kings and Queens will be a start up discount apparel retail store that offers brand name clothing for plus size women and big men. This business will sell high-end designer clothes and accessories for professional men and women. We also offer the latest fashion in urban and casual attire for the entire family as well. We will offer in our Men’s and Youth...
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...its HR department does not have a clear mission and function. In developing HR strategies, it is important to refer to the organization’s objectives, as well as a clear mission statement. In order for the company to accomplish its goal of growing the organization, it is imperative that an HR strategic plan is conducted. This paper will go over what is needed in order for the HR department to accomplish the overall strategic business plan. The travel agency is growing and hiring 50 employees can be a challenge. It is important to find candidates with the right type of qualifications and experience to fill specific jobs within the organization. Planning for such growth, travel agency’s Human Resource department needs to orient and train employees, as well as build effective teams within the organization. With such a huge number of new hires, it will be challenging to handle the organizational change especially finding a fit between culture and new employees. Once the HR department has been created, functions such as performance appraisals, compensation and benefits, and conflict management are also carried out, but it would be challenging if the team is understaffed or inexperienced in Human Resource. It is necessary for travel agency to have a system in place to measure level of satisfaction. The purpose of having HR metrics is to know whether or not a function is moving in the right direction. It is the HR department’s mission to achieve strategic goals and drive shareholder...
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...E SSAY COLLECT ION Crisis in the Eurozone Transatlantic Perspectives ESSAY COLLECTION Crisis in the Eurozone Transatlantic Perspectives This publication is a part of CFR’s International Institutions and Global Governance (IIGG) program and has been made possible by the generous support of the Robina Foundation. The Council on Foreign Relations (CFR) is an independent, nonpartisan membership organization, think tank, and publisher dedicated to being a resource for its members, government officials, business executives, journalists, educators and students, civic and religious leaders, and other interested citizens in order to help them better understand the world and the foreign policy choices facing the United States and other countries. Founded in 1921, CFR carries out its mission by maintaining a diverse membership, with special programs to promote interest and develop expertise in the next generation of foreign policy leaders; convening meetings at its headquarters in New York and in Washington, DC, and other cities where senior government officials, members of Congress, global leaders, and prominent thinkers come together with CFR members to discuss and debate major international issues; supporting a Studies Program that fosters independent research, enabling CFR scholars to produce articles, reports, and books and hold roundtables that analyze foreign policy issues and make concrete policy recommendations; publishing Foreign Affairs, the preeminent journal...
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...Merybeth Quiros Module Lecturer: Peter Bell International Business Planning & Marketing MNM41 A Business Strategy Review and a Marketing Review of Sears 1st submission Date Due in: April 19, 2012 Number of pages: 23 Word count :3,281 Table of Contents sEARS bUSINESS STRATEGY REVIEW i Executive Summary 2-3 introduction brief history and background of sears 4 mission & obJECTIVES II evaluation of sears existing mission and objectives 5-6 External analysis IIi Competitors 7 PEST 8-9 Five forces Analysis 10-11 Opportunities & Threats 11 InternaL aNALYSIS iV Strenghts & Weaknesses 12 Financial ratios analysis 13-14 Past and current strategies 15 Sears current strategic position v Sears current strategy Balance Scorecard 16-17 Porter’s Generic strategies 17 rEcommendations vi Objectives and strategic actions 19-21 Evaluation 22- 23 Conclusion 24-26 Bibliography Executive Summary Sears, once the leader of the retail industry, is now facing financial troubles and is relegated to the 10th position in the market (Store org, 2011). Even after the merger with K-Mart, the retail conditions have not seemed to improved, but in fact, Sears Holding’s financial reports continued...
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...technology in the classroom will allow students to be more in touch with learning only help improve their leaning potentials. Having a technology in the classroom is a benefit for everyone. Teachers will be able to work with students more and spend less time worrying about how they are going to compute students’ grades. This generation is a technology based generation, and will learn best through technology. Section One: Mission and Vision Statement Mission Statement: By providing students with technology both in and out of the classroom, they will become more familiar with how to properly use today's technologies and stay updated with the technologies of the future, ensuring a brighter tomorrow for each of them. Students will implement the use of technology into their learning environment in order to gain the skills needed for society. It is important that each student strive for excellence in their academic work. Having a strong curriculum allows the students to be creative and inspired to prepare themselves for a bright future. Vision Statement: Teachers are preparing each of their students for the...
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...to that sanitizer. We mixed all the materials and then after that we stirred it and come up to a Aloe Vera Hand Sanitizer. Aloe Vera Hand Sanitizer is more effective at killing microorganisms than soaps. Aloe Vera Hand Sanitizer helps us to kill germs and bacteria`s in our hands. Aloe Vera Hand Sanitizer will help us stay our hands clean and far from diseases that can harm us and lead us to serious problems or even death. Introduction Hand Sanitizers have been credited with reducing the impact of several worldwide epidemics involving influenza and other infections. Our Aloe Vera Hand Sanitizer Background of the Study *Aloe Vera *Alcohol -Aloe Vera has been used for a host of purposes since the ancient Egyptians called it the “plant of immortality”. Aloe Vera is a cactus plant that belongs to the Liliaceae family. It grows in dry climates such as those found in parts of Africa and India has been used medicinally for centuries. Aloe leaves secrete a clear gel that when broken off from the rest of the plant that can be applied topically to heal wounds and soothe skin. Aloe Vera is a succulent plant species that is found only in cultivation, having no naturally...
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...Corporate Social Responsibility Paper Corporate social responsibility, CSR, has three major trends. Shared Value, Conscious Capitalism, and Social Business. Throughout this paper, I will be discussing these major trends and demonstrating how different businesses embody them. These major trends do not always work together. However, many businesses demonstrate one or two of these trends. In today’s world, corporate social responsibility is something that every business should make a great effort to incorporate into their business model. This is important because corporate social responsibility is how businesses are impacting society. CSR is a way for businesses to have some accountability in making sure their products or services do not impact the environment or community in a negative way. Throughout the next few pages, you will read examples of companies in our current society and prove how these companies are applying these trends to their business models. Shared value is the first trend of CSR. Shared value was introduced in a Harvard Business Review article. Strategy & Society: The link between Competitive Advantage and Corporate Social Responsibility was published in late 2006 by Michael E. Porter and Mark R. Kramer. Both Kramer and Porter helped spread the word about shared value and revealed how it works and why shared value was a necessary component to society. Porter has been considered to be the front-runner on competitive strategy and is the chair...
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...Introduction The principles of today's management goes back to the mid 1990's when an article named the “principles of scientific management” was published by Fredric Winslow Taylor who pioneered the term ‘scientific management’ in 1911. He defined scientific management as a study to increase productivity by methodologically studying the correlation between the individual and the task for the purpose of reconstructing and improving the work process (Jones and George, 2003). In the 19th and 20th century working hours were long, intense and confined, which resulted in the workers performing their tasks slower (Brodner, 2007). These issues caught the attention of Fredrick Winslow Taylor who was from the industrial revolution era, which was previously characterized by mass production (Asyali and Bastug, 2014). His intention was to increase the efficiency of the workforce by scientifically studying how work was done and by improving each stage without wearing out the laborers (Ahlstorm, 2014). Principles of scientific management After conducting various experiments he derived 4 principles, which contributed to the various management practices upheld in the 20th century (Giannantonio and Hurley-Hanson, 2011). First, science not the rule of thumb. In the industrial revolution managers relied on their personal judgment to resolve issues also referred to as the rule of thumb but all such approaches by the managers would not be efficient. Taylor felt that to increase productivity...
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...The Values Americans Live By by L. Robert Kohls Most Americans would have a difficult time telling you, specifically, what the values are that Americans live by. They have never given the matter much thought. xxx Even if Americans had considered this question, they would probably, in the end, decide not to answer in terms of a definitive list of values. The reason for this decision is itself one very American value—their belief that every individual is so unique that the same list of values could never be applied to all, or even most, of their fellow citizens. Although Americans may think of themselves as being more varied and unpredictable than they actually are, it is significant that they think they are. Americans tend to think they have been only slightly influenced by family, church or schools. In the end, each believes, "I personally chose which values I want to live my own life by." Despite this self-evaluation, a foreign anthropologist could observe Americans and produce a list of common values that would fit most Americans. The list of typically American values would stand in sharp contrast to the values commonly held by the people of many other countries. We, the staff of the Washington International Center, have been introducing thousands of international visitors to life in the United States for more than a third of a century. This has caused us to try to look at Americans through the eyes of our visitors. We feel confident that the values listed here describe...
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...up as ideology, technology, and the Third World. I have called this lecture “Three (Possible) Paradigms” not just to avoid making too presumptuous an impression on the audience but also to indicate that my use of the term “paradigm” is slightly different from the one most people have taken over from Thomas Kuhn’s work on scientific revolutions. In the history of science, a paradigm has come to mean a comprehensive explanation, a kind of scientific “level” that sustains existing theory until overtaken by a new and different paradigm. In the history of human societies, I would venture, the term paradigm must take on a slightly different meaning, closer, in fact, to how the term was generally used before Kuhn’s work in the early s. For our purpose, I want to look at paradigms as patterns of interpretation, which may possibly exist side by side,...
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