Kohl’s Corporation reported today that for the five-week month ended June 30, 2012 total sales decreased 2.6 percent and comparable store sales decreased 4.2 percent from the five-week month ended July 2, 2011.
Kevin Mansell, Kohl’s chairman, president and chief executive officer, commented, “Though June sales were again lower than expectations, we are encouraged by improved sales in the latter weeks of the month as we continued to build inventory levels. From a line of business perspective, Men’s and Footwear were the strongest categories. The Midwest was the strongest region.”
As a result of its quarter-to-date performance, the company now expects second quarter diluted earnings per share at the low end of its previous guidance of $0.96 to $1.02.
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% Change | |||||||||||||
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Total Sales |
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Total Sales | Comparable Sales | ||||||||||||
| ($ in millions) |
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2012 | 2011 |
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2012 | 2011 |
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2012 | 2011 | |||||||
June |
|
|
$ 1,708 |
|
$ 1,754 |
|
|
(2.6 |
%) |
|
9.2 |
% |
|
|
(4.2 |
%) |
|
7.5 |
% |
Quarter to Date |
|
|
$ 3,045 |
|
$ 3,126 |
|
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(2.6 |
%) |
|
6.2 |
% |
|
|
(4.2 |
%) |
|
4.4 |
% |
Year to Date |
|
|
$ 7,288 |
|
$ 7,287 |
|
|
0.0 |
% |
|
4.4 |
% |
|
|
(1.7 |
%) |
|
2.6 |
% |
The company operates 1,134 stores in 49 states, compared to 1,097 stores at the same time last year.
