Kohl's Corporation (KSS)

February 02, 2012 8:00 am ET


Unknown Executive -


Unknown Executive

Thank you for calling the Kohl's Sales Information line. Information provided on this call is related to the press release issued on February 2 for the January fiscal month. Statements made on this call, including projected financial results, are forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected in such forward-looking statements. Such risks and uncertainties include those that are described in Item 1A in Kohl's annual report on Form 10-KA and as may be supplemented from time to time in Kohl's other filings with the SEC, all of which are expressly incorporated herein by reference.

Also, please note that replays of this call will be available for 36 hours, but this recording will not be updated. So if you're listening after February 2, it is possible that the information discussed is no longer current.

January's comp sales increased 0.6%. Total sales for the 4-week January fiscal month were $844 million, a 2.4% increase over January 2011. For the fourth quarter, total sales decreased 0.3%, and comp sales decreased 2.1%. For the year, total sales increased 2.2% and comparable sales increased 0.5%.

The Northeast was the strongest region, with a mid-single-digit increase. The mid-Atlantic and Southeast had comp increases in the low single digits. The Midwest was slightly negative. The South Central and Southwest regions reported mid- to high-single-digit decreases.

E-commerce sales increased 21% for the month. For the year, E-commerce revenues increased 37% and reached our $1 billion goal. From a line of business perspective, accessories reported the strongest comp for the month, with a mid-single-digit increase. Accessories and handbags were the strongest category, with a greater than 20% comp increase.

Men's and home also outperformed the company average. Basics was the strongest men's category with an increase in the low teens. Men's casual pants, dress shirts and young men's were also positive. In home, electrics continues to perform very well, reporting a 20% increase for the month. Bedding and sheets also reported a high-single-digit increase. The men's was generally consistent with the company average. Notable performers included contemporary sportswear and intimate.

Children's and footwear underperformed the company average. In children's, both boys and girls, reported increases. In footwear, women's and kids were positive. We expect to end the year up low single digits in inventory per store and remain comfortable with the level and content of our inventory.

As a result of our quarter performance, we now expect diluted earnings per share of $1.79 to $1.80 for the fourth quarter and $4.29 to $4.30 for fiscal 2011, versus our previous guidance of $1.70 to $1.73 for the fourth quarter and $4.20 to $4.23 for fiscal 2011.

We will report earnings for the fourth quarter of 2011 on Thursday, February 23 at 7:00 a.m. Eastern time. A conference call will follow at 8:30 a.m. Eastern time.

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our February 2 press release or our website for detailed access information. We will report February sales on Thursday, March 1. Thank you.

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