Kohls Corp reported sales for the five-week period ended April 5, decreased 7.9%. On a comparable store basis, sales decreased 15.5%. For the nine weeks, total sales decreased 3.2% and comparable store sales decreased 11.1%.
Larry Montgomery, Kohls chairman and CEO, commented, “Sales in weather-sensitive businesses such as shorts, tanks, polos and sandals experienced significant declines on a comparable store basis, contributing to our sales shortfall. We have been conservative in our inventory planning and expense management and will continue to do so until the environment improves.“
The company now expects its first quarter comparable sales to be in the negative high-single digit range and its earnings to be $0.40 to $0.42 per diluted share.
As of April 5, Kohl's operated 943 stores in 47 states, compared to 824 in 45 states at the same time last year.
