Kohl’s reports April store sales
by Jo Black
Kohl’s Corporation reported today that sales for the four-week period ended May 3, 2008 increased 12.0 percent over the four-week period ended May 5, 2007. On a comparable store basis, sales increased 3.5 percent.
For the combined March/April period, total sales increased 0.4 percent and comparable store sales decreased 7.7 percent. For the quarter ended May 3, 2008, total sales increased 1.5 percent and comparable store sales decreased 6.7 percent.
Larry Montgomery, Kohl’s Chairman and Chief Executive Officer, said, we were encouraged by the improvement in our sales performance in April as business in seasonal categories improved. We will be conservative in our inventory planning and expense management as we continue to expect our customers to be cautious in their spending.
As a result of April’s performance, the Company now expects earnings to exceed its previous guidance of $0.40 to $0.42 per diluted share.
On May 3, 2008, the Company operated 957 stores in 47 states, compared to 834 in 46 states at the same time last year.
Source : http://www.kohlscorporation.com/
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