Kohls Corp. reported October sales dropped 4.8% to $1.21 billion from $1.27 billion a year ago. On a comparable store basis, sales decreased 9.0%.
Total year-to-date sales were up 1.5% to $11.2 million from $11 million a year ago.. On a comparable store basis, year-to-date sales decreased 6.0%.
Kevin Mansell, Kohls president and chief executive officer, commented, “Octobers results continue to show that our customers are focused on need and value in their purchases. We are managing inventory levels, gross margin and expenses to our sales trends to maximize our earnings.”
The company continues to expect earnings to be at the low end of its previously announced guidance of 51 cents to 56 cents a share.
As of November 1, Kohl's operated 1,004 stores in 48 states, compared to 914 in 47 states at the same time last year.