Kohl's Ups Third Quarter Sales; Opens 41 Stores
By Staff -- Home Textiles Today, 11/15/2004
Menomonee Falls, Wis. —Kohl's Corporation showed strong third quarter total sales, which went up 14.6 percent, as well as inched-up comparable-store sales that grew 1.2 percent.
In dollars, third quarter total sales reached $2.74 billion compared with last year's same period figure, $2.39 billion.
The company said it expects third quarter earnings to remain within previous guidance — at 41 to 42 cents per diluted share.
For the 39 weeks ended Oct. 30, total sales were up 13.4 percent, while comparable-store sales were flat.
For the four-week period ended Oct. 30, total sales increased 16.4 percent over the four-week period ended Nov. 1, 2003. On a comparable store basis, sales increased 6 percent.
In related news, Kohl's opened 41 stores in October. New markets include: San Francisco, with 11 stores; Salt Lake City, with five stores; Rochester, N.Y., with three stores; Portland, Maine, with two stores; Reno, Nev., with two stores; and Montgomery, Ala., with one store. The company also added five stores in the Southwest region, four stores in the Midwest region, four stores in the Northeast region, three stores in the South Central region and one store in the Southeast region.
