Kohl’s Comps Inched Up .4% for July

Kohl’s Corporation reported that total sales for the four-week month ended August 1, 2009 increased 5.2 percent from the four-week month ended August 2, 2008. On a comparable store basis, sales increased 0.4 percent.

For the year-to-date period, total sales increased 1.3 percent and comparable store sales decreased 3.2 percent.

Kevin Mansell, Kohl’s president and chief executive officer, commented, “July sales again exceeded our expectations. We achieved a double-digit comparable store sales increase in the Southwest region and strong comparable store sales increases in the Accessories, Home and Footwear businesses. As a result of our sales results and inventory management initiatives, our gross margin for the quarter was strong and our expenses remained well controlled. We now expect earnings of $0.73 to $0.74 per diluted share for the second quarter of fiscal 2009, exceeding our previous guidance of $0.56 to $0.64 per diluted share.”