Kohl's Corporation saw net sales for the five-week fiscal January increase 46.6% over the four-week period last year. On a comparable four-week basis, comparable store sales increased 8.7%.
Fiscal January consists of five weeks this year, resulting in a 14-week fiscal quarter and a 53-week fiscal year. To provide a better measure of the company's business trends, the reported comparable store sales results compare the period ended January 27, 2007 to the period ended January 28, 2006.
For the 14 weeks ended February 3, 2007, total sales increased 16.7% over the 13 weeks ended January 28, 2006. On a comparable 13-week basis, comparable store sales increased 4.1%.
For the 53 weeks ended February 3, 2007, total sales increased 16.0% over the 52 weeks ended January 28, 2006. Total sales in the fifty-third week were approximately $200 million. On a comparable 52 week basis, comparable store sales increased 5.9%.
Larry Montgomery, Kohl's chairman and chief executive officer, commented, “January's sales results were driven by strong customer demand for cold-weather merchandise as well as redemptions of gift cards. We are pleased with our sales performance for January as well as in fiscal 2006 and look forward to continuing our momentum into fiscal 2007.”
Sales Summary
($ in millions)
Fiscal Period Ended % Increase - This Year
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February 3, January 28, All Comp
2007 2006 Stores Stores
-------------- -------------- ------------ -----------
January $ 991.6 $676.4 46.6% 8.7%
Fourth Quarter $5,430.8 $4,651.9 16.7% 4.1%
Year-To-Date $15,544.2 $13,402.2 16.0% 5.9%
On February 3, 2007, the company operated 817 stores in 45 states, compared with 732 in 41 states at the same time last year.
