Kohl’s Corp. on Thursday reported comparable sales for November and December 2018 combined. On a shifted basis, which compares the nine weeks ended January 5, 2019 and January 6, 2018, comparable sales for the Holiday period increased 1.2 percent.
“We are delighted with our 1.2 percent shifted comparable sales increase for the Holiday period, which builds on the positive momentum we have achieved throughout the year,” said Michelle Gass, Kohl’s CEO. “The organization once again delivered a very strong holiday that topped last year’s exceptional holiday season. The strong performance we achieved this holiday reflects the compelling product offering, great marketing strategy, and consistent execution in stores and online. We are particularly pleased with the positive transaction growth and the double-digit digital growth we experienced this holiday, as our customers continue to embrace the omnichannel investments we are making.”
Gass continued, “I want to thank all of our teams across the company who created and executed a great holiday plan and a wonderful experience for our customers.”
Based on the strong Holiday sales performance, the company now expects its fiscal 2018 diluted earnings per share to be $5.50 to $5.55, compared to its prior guidance of $5.35 to $5.55. This guidance excludes the debt extinguishment charge of $42 million, or 19 cents per diluted share, which was recorded in the first quarter of fiscal 2018. It also excludes other non-recurring charges the company anticipates recording related to the voluntary debt redemption announced in December 2018 and actions to be taken in the fourth quarter as part of the company’s operational excellence initiatives.