Kohl's Corporation reported that sales for the four-week period ended May 28, 2005 increased 10.2% over the four-week period ended May 29, 2004. On a comparable store basis, sales increased 0.2%. Sales were released earlier than normal to facilitate the company's presentation at an analyst conference on June 1st.
For the 17 weeks ended May 28, 2005, total sales were up 14.0% over the 17 weeks ended May 29, 2004. On a comparable store basis, sales for the 17-week period increased 2.8%.
Larry Montgomery, Kohl's chairman and chief executive officer, said, “May's sales performance was in-line with our expectations. We continue to expect a comparable store sales increase for the second quarter of 4%-5% and remain comfortable with our previous earnings guidance of 49 cents to 52 cents per diluted share for the second quarter.”
Sales Summary
($ in millions)
% Inc.(dec.) -
Fiscal Period Ended This Year
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May 28, May 29, All Comp
2005 2004 Stores Stores
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May $899.1 $815.8 10.2% 0.2%
YTD $3,641.9 $3,196.0 14.0% 2.8%
On May 28, 2005, the company operated 670 stores in 40 states, compared with 589 stores in 38 states at the same time last year.
The company opened one store in the Chicago, Illinois market in May. The company expects to open approximately 62 additional stores in the third fiscal quarter. In August, the company will open four new stores. The remaining stores, including new entries into Orlando and Jacksonville, Florida, will open in October.
