Kohl's Corporation Reports September Comparable Store Sales
October 08 2009 - 8:30AM
Business Wire
Kohl’s Corporation (NYSE: KSS) reported today that total sales
for the five-week month ended October 3, 2009 increased 9.6 percent
from the five-week month ended October 4, 2008. On a comparable
store basis, sales increased 5.5 percent for the month of
September.
Total year-to-date sales were up 2.8 percent over the comparable
prior year period. On a comparable store basis, year-to-date sales
decreased 1.7 percent.
Kevin Mansell, Kohl’s chairman, president and chief executive
officer, commented, “All regions and all lines of business reported
comparable store sales increases in September. The Southwest region
and the Accessories business were once again the strongest
performers with double-digit comparable store sales increases. As a
result of our quarter-to-date performance, we are raising our third
quarter earnings per share guidance from $0.40 to $0.44 per diluted
share to $0.52 to $0.54 per diluted share.”
Fiscal Period Ended % Change Oct. 3,
Oct. 4, All Comp ($ in millions) 2009 2008 Stores Stores
Month $ 1,464 $ 1,336 9.6 % 5.5 %
Quarter-to-date
2,779 2,591 7.2 2.9
Year-to-date
10,223 9,941 2.8 -1.7
On September 30, 2009, the Company opened 37 stores, mostly in
former Mervyn’s locations. As of October 3, 2009, the Company
operated 1,059 stores in 49 states, compared to 1,003 in 48 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 EDT on Thursday, October 8, until 8:30 PM EDT
on Friday, October 9. The toll-free, dial-in number for the replay
is (888) 360-2596. (No pass code is required.)
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.
Kohl’s Department
Stores
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. Kohl’s operates 1,059 stores in 49 states. A company
committed to the communities it serves, Kohl’s has raised more than
$126 million for children’s initiatives nationwide through its
Kohl’s Cares for Kids® philanthropic program, which operates under
Kohl's Cares, LLC, a wholly-owned subsidiary of Kohl's Department
Stores, Inc. For a list of store locations and information, or for
the added convenience of shopping online, visit www.kohls.com.
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