S&P: Kohl's view to negative

Standard & Poor's said it revised the outlook on Kohl's Corp. to negative from stable.

The agency also said it affirmed all of its ratings, including its BBB+ corporate credit rating.

The outlook revision is based on an expectation that weak sales could continue into 2013 and result in a further deterioration of the company's credit measures, S&P said.

The ratings reflect the company's satisfactory business risk profile and intermediate financial profile, the agency said.

The ratings are supported by the company's solid market position as a family-oriented specialty department store, good execution of a value-focused merchandising strategy, solid measures of profitability and geographic diversity, S&P said.

But, Kohl's sales trends have weakened in recent quarters and lagged its peers, the agency added. S&P said it believes competitive pressure and merchandising issues have contributed to the sales weakness and now expect sales trends to remain soft for the remainder of this year.

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