Kohl's Corporation Reports January Comparable Store Sales
February 03 2011 - 8:30AM
Business Wire
Kohl’s Corporation (NYSE:KSS) reported today
that total sales for the four-week month ended January 29, 2011
increased 3.4 percent over the four-week month ended January 30,
2010. On a comparable store basis, January sales increased 1.4
percent. For the full year, total sales increased 7.1 percent and
comparable store sales increased 4.4 percent.
Kevin Mansell, Kohl’s chairman, president and
chief executive officer, commented, “January’s sales results
benefitted from continued strength in our e-commerce business as
sales increased 60 percent over last year. The Midwest region
reported the strongest comp sales for the month on a regional
basis, with the Northeast region being most affected by snowstorms
during the month. From a line-of-business perspective, Men’s and
Home outperformed the company on a comparable store sales
basis.”
% Change
Total Sales
Total Sales
Comparable Sales
($ in millions)
This Year Last
Year This Year Last Year
This Year Last Year January $ 825
$ 798 3.4 % 10.7 % 1.4 % 6.5 % Quarter 6,038 5,682 6.3 8.5 4.3 4.5
Year 18,391 17,178 7.1 4.8 4.4 0.4
As a result of its January performance, the
Company now expects diluted earnings per share of $1.65 to $1.66
for the fourth quarter and $3.64 to $3.65 for fiscal 2010 versus
its previous guidance of $1.62 to $1.66 for the fourth quarter and
$3.61 to $3.65 for fiscal 2010.
The Company operates 1,089 stores in 49 states,
compared to 1,058 stores 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 3
until 8:30 PM EST on Friday, February 4, 2011. The toll-free,
dial-in number for the replay is (888) 360-2596. (No pass code is
required.)
Fourth Quarter 2010
Earnings Release and Conference Call
Kohl’s will release its fourth quarter earnings
on Thursday, February 24, 2011 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 40249720. A replay of the call will also be
accessible beginning at approximately 9:30 AM EST on February 24,
until midnight EDT on March 24, 2011. To listen to the replay, dial
(800) 642-1687 or (706) 645-9291, and use Conference ID
40249720.
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=2807929
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
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 its 1,089 stores in 49 states
with a commitment to environmental leadership. In support of the
communities it serves, Kohl’s has raised more than $150 million for
children’s initiatives nationwide through its Kohl’s Cares® cause
merchandise 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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