Kohl’s Corp reported that for the four-week month ended Nov. 24, total sales decreased 4.9 percent and comparable store sales decreased 5.6 percent. Year to date, total sales increased 0.4 percent and comparable store sales decreased 1.1 percent.
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Total Sales
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Total Sales
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Comparable Store Sales | ||||||||||||||||||
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2012
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2011
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2012
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2011
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2012
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2011
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November |
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$ |
1,836 |
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$ |
1,930 |
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(4.9 |
%) |
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(4.5 |
%) |
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(5.6 |
%) |
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(6.2 |
%) |
Year to Date |
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$ |
14,773 |
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$ |
14,716 |
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0.4 |
% |
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2.4 |
% |
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(1.1 |
%) |
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0.6 |
% |
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Kevin Mansell, Kohl’s chairman, president and chief executive officer, commented, “Though November sales were lower than expectations, we are encouraged by improved sales over the Thanksgiving week. There was a significant shift in Black Friday-related sales into our E-Commerce channel. For the week, both transactions and sales in E-Commerce increased over 50 percent with most of these sales being recognized in December. The combination of these E-Commerce sales and our store sales resulted in higher sales for the last week of the month.”
All regions reported negative sales for the month. The Mid-Atlantic and Northeast were the most challenging regions due to weak sales early in the month following Superstorm Sandy. Children’s was the strongest line of business. Additional comments regarding the Company’s sales results will be provided in a pre-recorded telephone message, which will be available from 8:30 am ET on Thursday, November 29, 2012 until 8:30 pm ET on Friday, November 30, 2012. The toll-free, dial-in number for the replay is (888) 360-2596. (No pass code is required.)
The Company operates 1,146 stores in 49 states, compared to 1,127 stores at the same time last year.
