Kohl’s Corporation reported that sales for the four week period ended March 1, 2003 increased 10.2% over the four week period ended March 2, 2002. On a comparable store basis, sales decreased 4.6%.
Chairman & Chief Executive Officer Larry Montgomery, commented “Our 4.6% decline in comparable store sales compares to a 14.4% comparable store sales increase a year ago. The strong increase last year was driven by an early break of spring, which resulted in accelerated selling of spring apparel. Unfortunately, our February sales performance this year was negatively impacted by the severe winter weather which caused numerous store closures throughout the Company.”
Mr. Montgomery went on to say, “Our inventory is well positioned with a significant amount of new spring content and new brands that are being introduced and expanded throughout the store. We are confident that we will see acceleration in apparel sales with the onset of spring weather.”
