HistoryAccording to the Kohl's Corporation Hoover Report (2014), in the late 1920s, a man named Max Kohl opened a grocery store in Milwaukee, Wisconsin (Hoover Report , 2014, page 9). In 1938, Max and his three sons built his store into a successful chain and incorporated the business. By 1962 Max Kohl had been successful enough to open a department store right next to his Kohl's grocery store. By 1972, Max Kohl and his family had “65 grocery stores and five department stores generating approximately $90 million in annual sales” (p. 9). That same year, British American Tobacco's Brown & Williamson Industries (BATUS) purchased an 80% stake in the Kohl's two operations. Six years later, BATUS proceeded to purchase what remained of Kohl's. In the early 1980s, BATUS decided that Kohl's "discount image did not fit with BATUS' other retail operations" and ultimately decided to separate the two operations to put them up for sale (p. 9). The chairman and CEO at the time, William Kellogg, "and two other executives, with the support of mall developers Herbert and Melvin Simon, led a leveraged buy-out (LBO) to acquire the chain's 40 stores and a mall distribution" (page 9). When Kohl's managed to go public in 1992, "they had 81 stores in six states and sales exceeded $1 billion" (p. 9). During this period, Kohl's began its expansion and managed to achieve sales of two billion dollars over the next five years. Kohl's then “acquired a former Bradlees store to enter New Jersey and opened stores in Washington, D.C.; Philadelphia; New York; and Delaware” (p. 9). The following year, Kohl's was able to expand into Tennessee by adding new stores. The company named Larry Montgomery CEO in 1999 and in short...... half of the document......yRecords - In - Depth Records. Retrieved February 7 from North Central State College on Canvas.Kohl's Corporation (March 22, 2013). Form 10-K 2013. Retrieved February 7, 2014, from the SEC EDGAR website http://www.sec.gov/edgar.shtmKohl's. Kohl | Shop clothing, shoes, home, kitchen, bedding, toys and more. Retrieved April 20, 2014, from http://www.kohls.com/Marzilli, T. (2013, April 24). A long-term look at brand perception shows that JC Penney has lost ground compared to. Kohl's. Retrieved April 7, 2014, from http://www.forbes.com/sites/brandindex/2013/04/24/long-term-look-at-brand-perception-shows-jc-penney-losing-ground-vs - kohls/O'Donnell, J. (2011, December 16). Behind the business of TJ Maxx, Marshalls. USATODAY.COM. Retrieved April 11, 2014, from http://usatoday30.usatoday.com/money/industries/retail/story/2011-10-25/tjx-ceo-carol-meyrowitz/50916340/1