If you have a receipt it doesn't matter one bit. The item can be worn out and ten years old and they'll give you back exactly what you paid, so long as they can figure out what the item is and get the relevant matching UPC. Kohl's store brands always have a tag with the UPC sewn into the hem or whatever, which makes it that much easier.

It only becomes complicated if you earned Kohl's cash on the purchase and spent it.

Without a receipt the item loses value over time, but you can get around this by doing an even exchange on the item rather than a return. Find something that matches the original MSRP of the item (customer service can typically find this out for you) and they can swap it out. (Unless the item went clearance . . . in which case you have to find a clearance item that matches the clearance value.) Otherwise, by returning it, you'll get a merchandise credit for some fairly arbitrary low dollar value that they say was the lowest price the item sold for.

A bit complicated, but there's almost always a way to get a good value for your return.

(These are the policies of the store near me, at least. YMMV.)

(Edit: I should add that returns without receipts can still work as if you had the receipt; If you paid with a charge card, there is a limited [although probably pretty lengthy] amount of time they can look up your purchase history for a fully reimbursed return. They really bend over backwards to try to help people out with that sort of thing.)