New York City Fitch Ratings affirmed its investment-grade "BBB+" credit rating on Kohl's Corp. on Thursday, saying the company has above-average operating margins and a successful business strategy. The ratings outlook is "stable."
In a statement, the ratings agency said Kohl's has increased its market share through "moderately priced national brands and the successful introduction of private and exclusive brands."
Fitch cautioned, however, that the company's strengths are somewhat offset by slowing same-store sales.
Kohl's Corp. said Thursday its November same-store sales fell a worse-than-expected 17.5% as fewer shoppers visited stores because of the recession.