Kohl’s Corporation (NYSE: KSS) reported today that for the five-week month ended December 29, 2012 total sales increased 4.0 percent and comparable store sales increased 3.4 percent over the five-week month ended December 31, 2011. For the November and December period, total sales increased 0.7 percent and comparable store sales increased 0.1 percent. Year to date, total sales increased 1.0 percent and comparable store sales decreased 0.3 percent.
Kevin Mansell, Kohl’s chairman, president and chief executive officer, commented, “December sales were lower than planned. Additionally, sales came late in the holiday shopping season and, as a result, were at deeper discounts than planned. We are taking the necessary markdowns in the fourth quarter to manage our inventory as we transition into the Spring season.”
|Total Sales||Total Sales||Comparable Store Sales|
|($ in millions)||2012||2011||2012||2011||2012||2011|
|Quarter to Date||$||5,210||$||5,176||0.7||%||(0.7||%)||0.1||%||(2.5||%)|
|Year to Date||$||18,147||$||17,962||1.0||%||2.3||%||(0.3||%)||0.5||%|
As a result of its quarter-to-date performance, the Company now expects diluted earnings per share of $1.60 to $1.62 for the fourth quarter and $4.11 to $4.13 for fiscal 2012 versus its previous guidance of $2.00 to $2.08 for the fourth quarter and $4.52 to $4.60 for fiscal 2012.
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