Kohl's Corporation reported that for the four-week month ended Jan. 28, sales increased 2.4 percent with comparable store sales increasing 0.6 percent. For the year, total sales increased 2.2 percent and comparable store sales increased 0.5 percent.
Kevin Mansell, Kohl's chairman, president and chief executive officer, commented, “January's sales were in-line with our expectations. I am pleased to report that we achieved our goal of $1 billion in E-Commerce revenues in fiscal 2011. The E-Commerce business was a key contributor to our fiscal 2011 sales performance and we plan to build on its momentum in 2012. Additionally, strong expense management during the quarter contributed to better-than-expected profitability.”
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% Change | ||||||||||||||||||
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Total Sales |
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Total Sales | Comparable Sales | |||||||||||||||||
| ($ in millions) |
|
2011 | 2010 |
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2011 | 2010 |
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2011 | 2010 | ||||||||||||
January |
|
$ |
844 |
|
|
$ |
825 |
|
|
2.4 |
% |
|
|
3.4 |
% |
|
|
0.6 |
% |
|
|
1.4 |
% |
Quarter |
|
|
6,018 |
|
|
|
6,038 |
|
|
(0.3 |
) |
|
|
6.3 |
|
|
|
(2.1 |
) |
|
|
4.3 |
|
Year |
|
|
18,804 |
|
|
|
18,391 |
|
|
2.2 |
|
|
|
7.1 |
|
|
|
0.5 |
|
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|
4.4 |
|
As a result of its January performance, the company is increasing its fourth quarter diluted earnings per share guidance from $1.70 – $1.73 to $1.79 – $1.80 and its fiscal 2011 guidance from $4.20 – $4.23 per diluted share to $4.29 – $4.30 per diluted share.
The company operates 1,127 stores in 49 states, compared to 1,089 stores at the same time last year.
