Kohl's Corp. has announced a five-year expansion plan for 2008 to 2012 that highlights its financial objectives and plans for a national presence of 1,400 stores.

The company is simultaneously celebrating its largest grand opening with 95 new stores, expansion to its 47th state (Wyoming) and 14,000 new jobs.

"For the past two years, we have exceeded our financial objectives and believe we are well-positioned to deliver on our long-term strategic growth plan," Kohl's chairman and chief executive officer Larry Montgomery said in a statement. "We remain focused on merchandising, inventory management, marketing and the in-store shopping experience as well as our expansion plan."

Kohl's newest in-store features and financial objectives for 2008 through 2012 include:

Same-store sales growth of 2 percent to 4 percent annually; total sales growth of 9 percent to 11 percent on a compound annual-growth rate (CAGR) basis, from $15.5 billion in 2006 through 2012; an operating margin of 13 percent to 13.5 percent by 2012; an earnings-per-share growth of 15 percent to 17 percent on a CAGR basis, from $3.31 in 2006 through 2012; capital expenditures of $1.6 billion to $1.7 billion annually, with investment in new stores, remodels, technology and merchandising; an expected improvement in free cash flow reaching $1.2 billion to $1.4 billion by 2012; a return on invested capital to 14 percent by 2012; and 1,400 stores by 2012.

The company will drive growth by improving the in-store experience, enhancing its geographically tailored product assortments, and ensuring strong in-stock position of the right styles, sizes and colors for consumers nationwide. The store will also encourage cross-shopping among departments by maximizing consumer communication with engaging in-store presentations such as accessories fixtures in the juniors' department and head-to-to messaging across all advertising and marketing mediums. Improvements also include updated lighting and fixtures for jewelry, accessories and intimates.

Kohl's opens 80 new stores today and 15 more will open in mid November, bringing the total number of outlets to 929. In addition to the Wyoming opening, the chain will debut in 13 new markets including Abilene, Texas; Cheyenne, Wyo.; Spokane, Wash.; and West Palm Beach, Fla.

The discount department store ranked 26th on National Jeweler's "$100 Million Supersellers" report, with an estimated $230 million in retail jewelry and watch sales in 2006.

For more information, visit Kohl's Web site, Kohls.com.