Kohls Corporation reported sales for the four-week month ended November 29, decreased 13.7% to $1,746 million from $2,023 million a year ago. On a comparable store basis, sales decreased 17.5%.
Year-to-date sales dipped 0.9% to $12,899 million from $13,010 million. Comps declined 7.7%.
Kevin Mansell, Kohls president and chief executive officer, commented, “November sales results were as expected, affected by both lower traffic than last year, and a significant sales shift due to a later Thanksgiving. Post-Thanksgiving results have been significantly stronger than our prior trend, driven by planned strong promotion. Consumers are focused on value, and we have incorporated that into our promotional efforts through the end of the year.”
As of November 29, the company operates 1,004 stores in 48 states, compared to 929 in 47 states at the same time last year.
