Kohl's Corporation reported that sales for the five-week period ended October 2, 2004 increased 13.4% over the five-week period ended October 4, 2003. On a comparable store basis, sales decreased 1.3%.
For the 35 weeks ended October 2, 2004, total sales increased 13.0% while comparable store sales declined 0.7%.
Larry Montgomery, Chief Executive Officer, commented, “Our strongest merchandise categories for the month were accessories and women's. The customer is responding to our updated fashion for her. All of our merchandising initiatives for fall are now in place. We have rolled out Daisy Fuentes and Apt. 9, expanded our selection of Axcess and Nine and Company, and introduced our new beauty department to 288 stores. We feel very good about our merchandise content for the balance of the year.”
Mr. Montgomery added, “Although our seasonal apparel businesses such as sweaters, fleece and outerwear throughout the store were difficult with comparable store sales significantly below last year, we continue to expect a low single-digit comparable store sales increase for the third quarter. With this assumption, we expect our earnings per diluted share for the quarter to be $0.41 to $0.44, consistent with our previous guidance.”
Sales Summary
($ in millions)
Fiscal Period Ended % Inc. – This Year
———————————————–
October 2, October 4, All Comp
2004 2003 Stores Stores
———————————————–
September $904.1 $797.4 13.4% -1.3%
Year-to-Date $6,663.7 $5,897.0 13.0% -0.7%
On October 2, 2004, the Company operated 596 stores in 38 states, compared with 494 stores in 34 states at the same time last year.
