Kohl’s Ups Q4 Guidance on 6.5% Comps Growth in January

Kohls Corporation reported today that total sales for the four-week month ended Jan. 30, 2010 increased 10.7% from the four-week month ended Jan. 31, 2009. On a comparable store basis, sales increased 6.5%.

Total sales for the year increased 4.8% from the prior year. On a comparable store basis, sales for the year increased 0.4%.

Kevin Mansell, Kohls chairman, president and chief executive officer, commented, Our January sales results reflect continued consistency as all of our lines of business and all regions once again achieved positive comparable sales increases. We continue to see strong increases in transactions per store driving our business, indicating customers are selecting Kohls when they choose to shop, even as they remain conservative in their discretionary spending.

From a regional perspective, the Southwest region led the company, as it has throughout most of 2009. From a line-of-business perspective, Footwear and Womens reported the strongest comparable store sales increases.

As a result of its January sales performance and strong inventory and expense management, the company is raising its fourth quarter earnings per share guidance from $1.28 to $1.30 per diluted share to $1.36 to $1.37 per diluted share.