Kohl's vs Walmart: Founders, CEOs and History

Company facts

Founders

CEOs and their tenures

Timeline: Kohl's and Walmart side by side

1. 1927Kohl's

   Maxwell Kohl Opens First Grocery Store

   Maxwell Kohl, a Polish immigrant working in Milwaukee factories, opened a corner grocery store at Lincoln Avenue and Kinnickinnic Avenue using his savings. This was the beginning of a retail empire that would eventually include 48 supermarkets.

2. 1946Kohl's

   First Supermarket with Bakery and Deli

   Kohl opened the first supermarket in Milwaukee's Sherman Park neighborhood to feature then-novel services like an in-store bakery and deli, innovations that would later influence his department store concept.

3. 1962Kohl's

   First Kohl's Department Store Opens in Brookfield, Wisconsin

   Based on his dissatisfying experience buying a shirt, Maxwell Kohl opened the first Kohl's department store in conjunction with a supermarket in Brookfield, Wisconsin.

4. 1962Walmart

   First Walmart Opens

   Sam Walton opens the first Walmart Discount City in Rogers, Arkansas.

5. 1970Walmart

   Walmart Goes Public

   Walmart sells shares to the public to fund expansion.

6. 1972Kohl's

   British American Tobacco Acquires Controlling Interest

   The Kohl family sold a controlling interest in their retail enterprise to a subsidiary of British American Tobacco Company. By this point, the enterprise included 56 supermarkets, 6 department stores, 3 drug stores, and 3 liquor stores.

7. 1979Kohl's

   BATUS Inc. Acquires Full Ownership

   British American Tobacco's subsidiary BATUS Inc. acquired full ownership of Kohl's Department Stores. Herb Kohl, Maxwell's son, resigned as president. He would later become an U.S. Senator from Wisconsin and owner of the Milwaukee Bucks.

8. 1983Walmart

   Sam's Club Launches

   The first Sam's Club warehouse club opens in Midwest City, Oklahoma.

9. 1986Kohl's

   Management Buyout from British American Tobacco

   A group of management executives and investors led by William Kellogg purchased the 40-store Kohl's retail chain from British American Tobacco for approximately $300 million, setting the stage for national expansion.

10. 1988Kohl's

    Acquisition of Federated's Main Street Stores

    Kohl's acquired Federated Department Stores' Main Street chain, entering the Chicago, Detroit, and Minneapolis-St. Paul markets and expanding beyond its Midwest base for the first time.

11. 1988Walmart

    First Supercenter and New CEO

    Walmart opens its first supercenter, and David Glass succeeds Sam Walton as CEO.

12. 1992Kohl's

    Initial Public Offering on NYSE

    Kohl's went public on the New York Stock Exchange, pricing shares and raising capital for expansion. At the time, the company operated 76 stores in the Midwest. The IPO valued the company at approximately $600 million.

13. 1998Kohl's

    Addition to S&P 500 Index

    Kohl's was added to the S&P 500 index, recognizing its growth and market capitalization. The company had become a significant player in U.S. retail.

14. 1999Walmart

    Asda Acquired

    Walmart bought the British supermarket chain Asda in 1999 for about $10 billion.

15. 2000Walmart

    Lee Scott Becomes CEO

    Lee Scott succeeds David Glass as CEO.

16. 2001Kohl's

    Launch of Kohls.com E-Commerce Platform

    Kohl's launched its e-commerce website, Kohls.com, giving the company an online presence that has grown to represent 29% of net sales. The platform initially offered merchandise available in stores plus online-exclusive items.

17. 2003Kohl's

    Coast-to-Coast Expansion with California Stores

    Kohl's opened 28 stores in California, achieving a coast-to-coast presence for the first time in the company's history. This marked the completion of a national expansion strategy that began with the 1988 Main Street acquisition.

18. 2012Kohl's

    Surpasses JCPenney as Largest Department Store Chain

    In May 2012, Kohl's surpassed JCPenney to become the largest department store chain in the United States by store count. The company operated approximately 1,100 stores at the time.

19. 2014Walmart

    Doug McMillon Becomes CEO

    Doug McMillon, who started as an hourly associate in 1984, becomes CEO.

20. 2016Walmart

    Jet.com Acquisition

    Walmart buys Jet.com for about $3.3 billion to strengthen its U.S. ecommerce team.

21. 2018Walmart

    Flipkart Investment

    Walmart acquires a majority stake in Flipkart for about $16 billion.

22. 2019Kohl's

    Amazon Returns Partnership Launches Nationwide

    Kohl's expanded its Amazon returns partnership to all 1,100+ stores nationwide, allowing customers to return Amazon packages unpackaged and free of charge.

23. 2020Kohl's

    Sephora Partnership Announced

    Kohl's announced a long-term strategic partnership with Sephora to open shop-in-shop beauty destinations in Kohl's stores. The first 200 locations opened in Fall 2021, with plans to expand to at least 850 stores by 2023.

24. 2022Kohl's

    Activist Investor Pressure and CEO Transition

    Activist investors including Macellum Capital Management pressured Kohl's board, nominating 10 directors and pushing for real estate monetization. The company adopted a poison pill defense.

25. 2023Kohl's

    Tom Kingsbury Becomes Permanent CEO; Sephora Reaches 850 Stores

    In February 2023, Tom Kingsbury was named permanent CEO. The Sephora rollout continued, reaching 850 stores by year-end. The company also laid off approximately 60 marketing and merchandising employees at corporate headquarters to 'drive greater efficiency.'

26. 2024Kohl's

    Sephora Sales Exceed $1.4 Billion; Babies 'R' Us Partnership Announced

    Sephora at Kohl's sales exceeded $1.4 billion in 2023, up over 90% year-over-year. The company announced a partnership with WHP Global's Babies 'R' Us to open shop-in-shop baby gear sections in approximately 200 stores.

27. 2024Walmart

    VIZIO Acquisition

    Walmart completes its $2.3 billion purchase of smart-TV maker VIZIO to expand its advertising business.

28. 2025Kohl's

    Ashley Buchanan Fired for Cause; Michael Bender Takes Over

    In May 2025, then-CEO Ashley Buchanan was fired for cause after an investigation found he directed the company to engage in vendor transactions involving undisclosed conflicts of interest with a former romantic partner.

29. 2025Kohl's

    FY2025 Financial Results and Debt Refinancing

    Kohl's reported FY2025 net sales of $14.78 billion (down 4.0%), total revenue of $15.527 billion, net income of $272 million (including a $129 million lawsuit gain), and adjusted net income of $186 million.

30. 2025Kohl's

    FY2025 Total Revenue Reaches $15.527 Billion

    Kohl's reported $15.527 billion in FY2025 total revenue, $14.775 billion in net sales, $624 million in operating income, $272 million in net income, 1,153 stores, and an average of about 84,000 associates.

31. 2026Kohl's

    Q2 2026 Results and Raised Outlook

    Comparable sales fell 0.9%, gross margin reached 43.0%, and FY2026 adjusted EPS guidance was raised to $1.80-$2.40.

32. 2026Walmart

    John Furner Becomes CEO

    John Furner succeeds Doug McMillon as President and CEO effective February 1, 2026; David Guggina takes over Walmart U.S.

33. 2026Walmart

    Q2 FY27 Results

    Walmart reports Q2 FY27 revenue of $187.9 billion, up 5.9%, and raises full-year sales and operating income guidance.

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