Data tracker
Kohl's inventory tracker
Kohl's runs the steepest seasonal cycle in this set: inventory routinely falls by around 30 percent in the January quarter and rebuilds through the autumn. It has also trended structurally lower, from $4.87 billion at the 2022 peak to under $3 billion.
Compiled by The Retail Ledger from company filings · Updated September 27, 2026
Reading the series
Because the seasonal swing is so large, raw quarter-over-quarter declines at Kohl's look dramatic in every year. The structural story in this series is the downward drift of the peaks, which reflects a smaller inventory position overall rather than faster clearing.
The comparison across five retailers is in who cleared the 2022 glut, and the sector sequence is in the glut timeline.
The data
| Quarter ended | Inventory ($M) | Change |
|---|---|---|
| Oct 30, 2021 | 3,642 | — |
| Jan 29, 2022 | 3,067 | -15.8% |
| Apr 30, 2022 | 3,736 | +21.8% |
| Jul 30, 2022 | 4,034 | +8.0% |
| Oct 29, 2022 | 4,874 | +20.8% |
| Jan 28, 2023 | 3,189 | -34.6% |
| Apr 29, 2023 | 3,526 | +10.6% |
| Jul 29, 2023 | 3,474 | -1.5% |
| Oct 28, 2023 | 4,239 | +22.0% |
| Feb 3, 2024 | 2,880 | -32.1% |
| May 4, 2024 | 3,083 | +7.0% |
| Aug 3, 2024 | 3,151 | +2.2% |
| Nov 2, 2024 | 4,099 | +30.1% |
| Feb 1, 2025 | 2,945 | -28.2% |
| May 3, 2025 | 3,137 | +6.5% |
| Aug 2, 2025 | 2,994 | -4.6% |
| Nov 1, 2025 | 3,895 | +30.1% |
| Jan 31, 2026 | 2,745 | -29.5% |
| May 2, 2026 | 2,897 | +5.5% |
| Aug 1, 2026 | 2,913 | +0.6% |
Source: company quarterly and annual reports. Figures as reported. Free to reuse with attribution to The Retail Ledger.