Kohl's, Ross, TJX Cos. update guidance following strong December comps
HTT Staff -- Home Textiles Today, 1/6/2011 4:38:42 PM
New York - December comp results that exceeded expectations compelled Kohl's, Ross Stores and TJX Cos. to raise their guidance for the fourth quarter and full year today.
Kohl's now expects earnings per share of $1.62 to $1.66 for the fourth quarter and $3.61 to $3.65 for fiscal 2010. Previous guidance was $1.58 to $1.66 for the fourth quarter and $3.57 to $3.65 for fiscal 2010.
Ross Stores now projects earnings per share of $1.32 to $1.34, for a forecasted increase of 14% to 16%, compared to $1.16 in last year's fourth quarter.
"Our merchants have been able to take advantage recently of a large amount of compelling close-out opportunities in the marketplace," explained Michael Balmuth, vice chairman and ceo of Ross. "As a result, today's guidance also reflects a projected timing benefit to distribution costs related to our expectation of higher pack-away inventory levels at the end of the fourth quarter."
TJX Companies now expects for fourth quarter diluted earnings per share on a reported basis to be in the range of 70 to 71 cents compared to prior guidance, adjusted for the closing of the A.J. Wright business, of 62 to 64 cents per share.
For its full year fiscal 2011, TJX now expects earnings per share in the range of $3.16 to $3.17, which costs related to closing A.J. Wright. This range is based upon estimated consolidated comparable store sales growth of approximately 3% to 4%, up from the prior guidance of 2% to 3%.
We would love your feedback!
Most Recent Resources
- Getting the most out of offline leads
- Free Shipping and the Importance of Onsite Promotion
- Should Branded Manufacturers Participate in Flash Sales?
- Rugs 101 - Special Edition
- How Big Is Your Label
- Choosing a Web Site Developer
- Convergence: Tie Your Online & Offline Experience...
- Social Networks to Social Shopping
- Why Brands and Their Retailers are Facebook’s Biggest...
- Web Based Intelligence Gathering
- The Future of Tablets
- Shopatron: Bicycles & eCommerce
- A Guide to Holiday eCommerce Success
- Mattress Buying 101 - Connecting with Consumers
- Designing Your Brand’s Website for eCommerce
- Global Sourcing in 2010: Doing More With Less
- Comparing Four Options for Turning Web Site Traffic into...
- Are You Prepared for the 2009 Holiday Season? A Branded...
- Design, Develop, Deliver: The Three D's to Digitally...