Kohl's Corporation Reports July Comparable Store Sales
August 09 2007 - 8:30AM
Business Wire
Kohl�s Corporation (NYSE:KSS) reported today that sales for the
four-week period ended August 4, 2007 increased 7.7 percent over
the four-week period ended July 29, 2006. On a comparable store
basis, sales were flat to last year. For the 26 weeks ended August
4, 2007, total sales were up 10.2 percent over the 26 weeks ended
July 29, 2006. On a comparable store basis, sales for the 26-week
period increased 2.5 percent. Larry Montgomery, Kohl�s chairman and
chief executive officer, commented, �We were disappointed in the
performance of seasonal businesses such as shorts, tees, and tanks,
which experienced declines on a comparable store basis. Early reads
on important back-to-school businesses such as childrens, young
mens and juniors look promising. We continue to experience strong
gross margin performance and expect our second quarter earnings to
be within the range of our previous guidance of $0.81 to $0.85 per
diluted share.� Sales Summary ($ in millions) � Fiscal Period Ended
% Inc. This Year August 4, July 29, All Comp 2007 2006 Stores
Stores � July $ 1,052.1 $ 977.0 7.7 % 0.0 % QTD $ 3,589.2 $ 3,301.5
8.7 % 1.3 % YTD $ 7,161.3 $ 6,497.8 10.2 % 2.5 % On August 4, 2007,
the Company operated 834 stores in 46 states, compared to 749 in 43
states at the same time last year. Comments regarding the Company�s
sales results will be provided in a pre-recorded telephone message,
which will be available for 36 hours, beginning at 8:30 AM EDT on
Thursday, August 9. The dial-in number for the replay is (719)
457-0820 (Pass Code: 1804632). Second Quarter Earnings Release
Kohl�s Corporation will release its second quarter earnings report
on August 16, 2007 at 4:00 PM EDT. A conference call is scheduled
at 5:00 PM EDT. Investors will have the opportunity to listen to
the conference call by dialing (913) 905-3179 (Pass Code: 3406251)
ten minutes prior to the start of the call. A replay of the
conference call will be accessible for 30 days, from 8 PM EDT
August 16 through midnight September 14, 2007, by dialing (719)
457-0820 (Pass Code: 3406251). In addition, the call will be web
cast live over the Internet through the Company�s web site located
at http://www.kohls.com (see �Investor Relations� / �Calendar of
Events�), or through Premiere Global�s web site at
https://cis.premconf.com/sc/scw.dll/usr?cid=vlllrcrxrdzvsnsns. To
listen to the call, please go to either web site at least 15
minutes early to register, download, and install any necessary
audio software. The web cast will be available for 30 days on both
web sites. Cautionary Statement Regarding Forward-Looking
Information This press release contains �forward-looking
statements� within the meaning of the Private Securities Litigation
Reform Act of 1995, including guidance on the Company�s targeted
sales and earnings. Kohl's intends forward-looking terminology such
as �believes,� �expects,� �may,� �will,� �should,� �anticipates,�
�plans,� or similar expressions to identify forward-looking
statements. Such statements are subject to certain risks and
uncertainties, which could cause Kohl's actual results to differ
materially from those anticipated by the forward-looking
statements. These risks and uncertainties include, but are not
limited to those described in Item 1A in Kohl�s annual report on
Form 10-K, which is expressly incorporated herein by reference, and
other factors as may periodically be described in Kohl's filings
with the SEC. About Kohl�s Based in Menomonee Falls, Wis., Kohl�s
(NYSE: KSS) is a family-focused, value-oriented specialty
department store offering moderately priced, exclusive and national
brand apparel, shoes, accessories, beauty and home products in an
exciting shopping environment. A company committed to the
communities it serves, Kohl�s operates 834 stores in 46 states and
has raised more than $85 million for children�s initiatives
nationwide through its Kohl�s Cares for Kids� philanthropic
program. For a list of store locations and information, or for the
added convenience of shopping online, visit www.kohls.com.
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