Kohls Corporation reported comparable store sales decreased 8.3% for fiscal January. Total sales for the January fiscal month were $791.4 million, down 20.4% from $994.8 million for the five-week period last year. Total sales for the additional week in fiscal 2006 were approximately $200 million.
Comparing the four weeks ended February 2, 2008 to the four weeks ended January 27, 2007, Fourth quarter sales were approximately $5.5 billion, up 0.7% over the same period a year ago. Comparable store sales decreased 4.0%.
For the year, total sales increased 5.6% over the same period a year ago while comparable store sales decreased 0.8%.
Larry Montgomery, Kohls chairman and chief executive officer, commented, “Customers continue to be selective in their purchases, driven by value and need. Our inventory management strategy was successful and we will end the quarter with inventory below last year on a per store basis. Based on Januarys sales results, we expect our earnings per share to be at the low end of our guidance of $1.30 to $1.34 per diluted share.”
| Sales Summary | ||||||||||||
| ($ in millions) | ||||||||||||
Fiscal Period Ending | % Change This Year | |||||||||||
| February 2, | February 3, | All | Comp | ||||||||
2008 | 2007 | Stores | Stores | |||||||||
| Month | $ | 791.4 | $ | 994.8 | -20.4 | % | -8.3 | % | ||||
| Quarter | $ | 5,487.3 | $ | 5,448.6 | 0.7 | % | -4.0 | % | ||||
| Year | $ | 16,473.7 | $ | 15,596.9 | 5.6 | % | -0.8 | % | ||||
