Kohl’s Corporation saw total sales for the five-week month ended Oct. 4, 2008 increase 0.6% from the five-week month ended Oct. 6, 2007. On a comparable store basis, sales decreased 5.5%.
Total year-to-date sales were up 2.4% over the comparable prior year period. On a comparable store basis, year-to-date sales decreased 5.6%.
Kevin Mansell, Kohl’s president and CEO, commented, “Customer purchases continue to be need-based, as evidenced by our stronger performance in children’s and in more weather-sensitive regions. We continue to effectively manage inventory, merchandise margins and expenses appropriately to sales trends.”
Given current trends, the company now expects its third quarter earnings to be at the low end of its previously announced guidance of 51 cents to 56 cents per diluted share.
On Wednesday, Oct. 1, 2008, the company opened 46 stores, and will open one additional store in November. On Oct. 4, 2008, the Kohl’s operated 1,003 stores in 48 states, compared to 914 in 47 states at the same time last year. September Sales Summary
($ in millions)
Fiscal Period Ended % Change This Year
——————- ——————–
Oct. 4, Oct. 6 All Comp
2008 2007 Stores Stores
——— ——— ——— ———-
Month $1,335.8 $1,327.2 0.6% -5.5%
Year-to-date 9,940.6 9,711.9 2.4 -5.6
