Kohl's Corporation reported sales for the five-week period ended December 30, 2006 increased 11.2% over the five-week period ended December 31, 2005. On a comparable store basis, sales increased 3.0%.
For the nine weeks ended December 30, 2006 total sales increased 11.7% while comparable store sales increased 3.3%. For the 48 weeks ended December 30, 2006, total sales increased 14.4% while comparable store sales increased 5.7%.
Larry Montgomery, Kohl's chairman and chief executive officer, commented, “December's sales results were driven by strong performance over the last two weeks as a result of last-minute shoppers in the fourth week and gift card redemptions in the last week of the month. This helped offset weak consumer demand of cold-weather merchandise such as outerwear, sweaters, and boots throughout the month.”
The Company remains comfortable with its previous earnings guidance of $1.36 to $1.42 per diluted share for the fourth quarter.
