Kohl's Corp reported sales for the four-week period ended June 2, increased 18.5%, to $1.19 billion from $1 billion. On a comparable store basis, sales increased 10.5%.
For the 17 weeks ended June 2, total sales were up 13.4% to $4.76 billion from $4.2 billion. On a comparable store basis, sales for the 17-week period increased 5.5%.
Larry Montgomery, Kohl's chairman and chief executive officer, commented, “May results were driven by broad-based strength in all of our apparel businesses, footwear and home. We continued our consistent performance as we achieved positive comparable sales increases in all regions.”
May's results were affected by a calendar shift of Memorial Day into fiscal May from fiscal June. As a result, the company expects a decrease in June comparable store sales in the low-single digit range, implying a combined May/June comparable sales increase of 3% to 4%.
On June 2, 2007, the Company operated 834 stores in 46 states, compared to 749 in 43 states at the same time last year.
