Kohl’s Corporation reported comparable store sales for the fourth quarter decreased 2.0 percent. The company said combined November and December comparable store sales grew 0.8 percent but January sales were significantly lower than planned as a result of lower traffic and low levels of clearance merchandise.
Unanticipated expenses in servicing its e-commerce business led to higher than expected costs for the quarter. As a result of these expenses, the company is lowering its fourth quarter diluted earnings per share estimates from $1.59 to $1.74 to approximately $1.53. Fiscal 2013 diluted earnings per share are now expected to be approximately $4.03, compared to previous guidance of $4.08 to $4.23.
The company will release its detailed report on the fourth quarter and full year as scheduled on Feb. 27, 2014.
