Kohl's Corporation Reports January Sales
February 07 2008 - 8:30AM
Business Wire
Kohl�s Corporation (NYSE: KSS) reported sales for the fiscal
periods ended February 2, 2008. As a reminder, the January 2007
fiscal month consisted of 5 weeks, while the current year period
was 4 weeks. Total sales for the additional week in fiscal 2006
were approximately $200 million. The following comparable store
sales results compare the period ended February 2, 2008 to the
period ended January 27, 2007. Comparing the four weeks ended
February 2, 2008 to the four weeks ended January 27, 2007,
comparable store sales decreased 8.3 percent. Total sales for the
January fiscal month were approximately $800 million, down 20.4
percent from the same period a year ago. Fourth quarter sales were
approximately $5.5 billion, up 0.7 percent over the same period a
year ago. Comparable store sales decreased 4.0 percent. For the
year, total sales increased 5.6 percent over the same period a year
ago while comparable store sales decreased 0.8 percent. Larry
Montgomery, Kohl�s chairman and chief executive officer, commented,
�Customers continue to be selective in their purchases, driven by
value and need. Our inventory management strategy was successful
and we will end the quarter with inventory below last year on a per
store basis. Based on January�s sales results, we expect our
earnings per share to be at the low end of our guidance of $1.30 to
$1.34 per diluted share.� Sales Summary ($ in millions) � Fiscal
Period Ending � % Change This Year � February 2, � February 3, All
� Comp 2008 2007 Stores Stores � Month $ 791.4 $ 994.8 -20.4 % -8.3
% Quarter $ 5,487.3 $ 5,448.6 0.7 % -4.0 % Year $ 16,473.7 $
15,596.9 5.6 % -0.8 % On February 2, 2008, the Company operated 929
stores in 47 states, compared with 817 in 45 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 (from 8:30 AM EST on Thursday, February 7
until 8:30 PM EST on Friday, February 8). The dial-in number for
the replay is (706) 645-9291 (Pass Code: 34493409). Citi Investment
Research Conference Kevin Mansell, Kohl�s president, will be
speaking on February 11, 2008 at the Citi Investment Retail
Conference and Field Trip, which is being held at the Hyatt Regency
Grand Cypress, in Orlando, Florida from February 11-13, 2008. To
listen to the live audio webcast of Mr. Mansell�s portion of the
event, go to
http://www.veracast.com/webcasts/citigroup/retail08/22101158.cfm on
February 11 at 6:30 PM ET. The replay of the audio-webcast for the
entire event will remain available for replay until March 14, 2008.
Fourth Quarter Earnings Release Kohl�s Corporation will release its
fourth quarter earnings report on February 28, 2008 at 4 PM EST. At
5 PM EST, a conference call is scheduled. Investors will have the
opportunity to listen to the conference by dialing (706) 902-0486
(Conference ID #34081229) ten minutes prior to the start of the
call. A replay of the conference call will be accessible for 30
days, from 8 PM EST February 28 through midnight March 28, 2008, by
dialing (706) 645-9291 (Conference ID # 34081229). In addition, the
call will be webcast live over the Internet through the Company�s
web site located at http://www.kohls.com (see �Investor Relations�
/ �Calendar of Events�). To listen to the audio web cast, please go
to either web site at least 15 minutes early to register, download,
and install any necessary audio software. The webcast 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 929 stores in 47
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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