Kohl's Corporation Reports January Comparable Store Sales
February 04 2010 - 8:30AM
Business Wire
Kohl’s Corporation (NYSE: KSS) reported today that total sales
for the four-week month ended January 30, 2010 increased 10.7
percent from the four-week month ended January 31, 2009. On a
comparable store basis, sales increased 6.5 percent.
Total sales for the year increased 4.8 percent from the prior
year. On a comparable store basis, sales for the year increased 0.4
percent.
Kevin Mansell, Kohl’s chairman, president and chief executive
officer, commented, “Our January sales results reflect continued
consistency as all of our lines of business and all regions once
again achieved positive comparable sales increases. We continue to
see strong increases in transactions per store driving our
business, indicating customers are selecting Kohl’s when they
choose to shop, even as they remain conservative in their
discretionary spending.”
From a regional perspective, the Southwest region led the
company, as it has throughout most of 2009. From a line-of-business
perspective, Footwear and Womens reported the strongest comparable
store sales increases.
As a result of its January sales performance and strong
inventory and expense management, the Company is raising its fourth
quarter earnings per share guidance from $1.28 to $1.30 per diluted
share to $1.36 to $1.37 per diluted share.
Fiscal Period Ended
%
Change
Jan. 30, Jan. 31, All Comp
2010
2009
Stores
Stores
($ in millions)
Month
$
798
$
720
10.7
%
6.5
%
Quarter 5,682 5,235 8.5 4.5 Year 17,178 16,389 4.8 0.4
As of January 30, 2010, the Company operated 1,058 stores in 49
states, compared to 1,004 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 EST on Thursday, February 4, until 8:30 PM EST
on Friday, February 5. The toll-free, dial-in number for the replay
is (888) 360-2596. (No pass code is required.)
Fourth Quarter 2009 Earnings
Release and Conference Call
Kohl’s will release its fourth quarter earnings on Thursday,
February 25, 2010 at 7:00 AM EST. A conference call is scheduled at
8:30 AM EST. Investors will have an opportunity to listen to the
conference call by dialing (706) 902-0486, using Conference ID
53527657. A replay of the call will also be accessible beginning at
approximately 9:30 AM EST on February 25, until midnight EST on
March 25, 2010. To listen to the replay, dial (706) 645-9291, and
use Conference ID 53527657.
In addition, the call will be web cast live over the Internet
through the Company's web site located at http://www.kohlscorporation.com/InvestorRelations/event-calendar.htm.
To participate in the conference, register at http://phx.corporate-ir.net/phoenix.zhtml?p=irol-eventDetails&c=60706&eventID=2705091
at least ten minutes prior to the call to download and install any
necessary audio software. The web cast will be available for 30
days.
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. Kohl’s operates 1,058 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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