Kohl's Corporation reported sales for the four-week period ended August
4 increased 7.7% to $1.05 billion from $977 million a year ago. On a
comparable store basis, sales were flat to last year.
Larry Montgomery, Kohl's chairman and chief executive officer,
commented, “We were disappointed in the performance of seasonal
businesses such as shorts, tees, and tanks, which experienced declines
on a comparable store basis. Early reads on important back-to-school
businesses such as childrens, young mens and juniors look promising. We
continue to experience strong gross margin performance and expect our
second quarter earnings to be within the range of our previous guidance
of $0.81 to $0.85 per diluted share.”
For the 26 weeks ended August 4, total sales were up 10.2% to $7.16
billion from $6.5 billion. On a comparable store basis, sales for the
26-week period increased 2.5%.
On August 4, Kohl's operated 834 stores in 46 states, compared to 749 in 43 states at the same time last year.
