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Kohl's December Same-Store Sales Rose 14.8%

TSC Staff

Kohl's(KSS Quote) reported December same-store sales that rose 14.8%, a much stronger figure than Wall Street was expecting for the period.

According to data from First Call/Thomson Financial, analysts expected the company to report a comparable-store sales increase of 5.3%. The Menomonee Falls, Wis., retailer said total sales for the five-week period ended Dec. 30 rose 37.3% from a year ago to $1.18 billion from $856.8 million.

The company plans to open 55 to 60 new stores in 2001, including about 34 stores in the first quarter of the year.

Shares of Kohl's recently gained $4.63, or 7.3%, to $68.44 in New York Stock Exchange trading.