Kohl's Corporation Reports April Comparable Store Sales
May 06 2010 - 8:30AM
Business Wire
Kohl’s Corporation (NYSE: KSS) reported today that total sales
for the four-week month ended May 1, 2010 decreased 5.0 percent
from the four-week month ended May 2, 2009. On a comparable store
basis, sales decreased 7.7 percent.
For the quarter and year-to-date period, total sales increased
10.9 percent and comparable store sales increased 7.4 percent.
Kevin Mansell, Kohl’s chairman, president and chief executive
officer, commented, “As expected, we reported a decrease in
comparable store sales in April due to the timing of Easter and our
Grand Opening events. We were pleased with our 8.8% comparable
store sales performance for the combined March/April period as well
as our first quarter performance. Our E-commerce business continues
to generate significant growth, achieving a 50 percent increase in
sales in the first quarter.”
From a regional perspective, the Southeast and South Central
regions led the company for the month. Footwear, Women’s and Men’s
achieved the strongest comparable store sales performance during
the month.
For the quarter, all lines of business and regions achieved
positive comparable store sales increases. From a regional
perspective, the Southeast and West regions led the company.
Footwear and Home achieved the strongest comparable store sales
increases for the quarter.
The Company now expects earnings of $0.61 to $0.62 per diluted
share for the first quarter of fiscal 2010, exceeding its previous
guidance of $0.55 to $0.57 per diluted share.
Fiscal Period Ended
% Change May 1, May 2, All Comp
2010 2009 Stores
Stores ($ in millions) April $ 1,139 $ 1,199 (5.0 )%
(7.7 )% March/April 2,951 2,632 12.1 8.8 Quarter-to-date and
Year-to-date 4,035 3,638 10.9 7.4
The Company operates 1,067 stores in 49 states, compared to
1,022 in 49 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, May 6, until 8:30 PM EDT on
Friday, May 7, 2010. The toll-free, dial-in number for the replay
is (888) 360-2596. (No pass code is required.)
First Quarter 2010
Earnings
The Company will report earnings for the first quarter of 2010
at 7:00 AM EDT on Thursday, May 13. Investors will have an
opportunity to listen to the first quarter earnings conference call
at 8:30 AM EDT on May 13 by dialing (800) 839-6491 (US/Canada
Dial-in Number) or (706) 902-0486 (International/Local Dial-in
Number), using Conference ID 71028626. A replay of the call will
also be accessible at approximately 9:30 AM EDT on May 13, until
midnight EDT on June 13, 2010. To listen to the replay, dial (706)
645-9291, and use Conference ID 71028626.
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=2807925
at least ten minutes prior to the call to download and install any
necessary audio software. The web cast will be available until June
13, 2010.
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 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 1,067 stores in 49 states. A company
committed to the communities it serves, Kohl’s has raised more than
$150 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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