Kohl's Corporation reported that sales for the five-week period of fiscal September increased 9.8% over last year. On a same-store basis, sales decreased 0.2%.
For the 35 weeks ended October 1, 2005, total sales increased 14.5% over the 35 weeks ended October 2, 2004. On a comparable store basis, sales for the 35-week period increased 3.7%.
Larry Montgomery, CEO, commented, “Our sales performance in the first half of the month continued the strong back-to-school performance we saw in August. Although we were disappointed in the sales of cold-weather merchandise such as sweaters and outerwear in the second half of the month, we would expect a shift in weather-related demand into October. We remain comfortable with our previous earnings guidance for the 3rd quarter of 43 cents to 46 cents per diluted share.”
Sales Summary
($ in millions)
Fiscal Period Ended % Inc. (Decr.) - This Year
-------------------------- --------------------------
Oct. 1, Oct. 2, All Comp
2005 2004 Stores Stores
----------- ------------ ----------- ------------
September $992.3 $904.1 9.8% -0.2%
Year-To-Date $7,630.7 $6,663.7 14.5% 3.7%
On October 1, 2005, the company operated 674 stores in 40 states, compared with 596 stores in 38 states at the same time last year.
This week, the company opened an additional 57 stores. The company entered the Orlando, FL market with six stores and the Jacksonville, FL market with three stores. In addition, the company added 13 stores in the Midwest region, nine stores in the Southwest region, eight stores in the South Central region, seven stores in the Northeast region, six stores in the Mid-Atlantic region and five stores in the Southeast region. One planned October opening in Beaumont, TX will now open in November.
The company will end the year with 732 stores in 41 states, compared to 637 stores in 40 states at the end of 2004.
