Kohl's Corporation reported that sales for the four-week period ended August 4, 2007 increased 7.7 percent over the four-week period ended July 29, 2006. On a comparable store basis, sales were flat to last year.
For the 26 weeks ended August 4, 2007, total sales were up 10.2 percent over the 26 weeks ended July 29, 2006. On a comparable store basis, sales for the 26-week period increased 2.5 percent.
Larry Montgomery, Kohl's chairman and chief executive officer, commented, “We were disappointed in the performance of seasonal businesses such as shorts, tees, and tanks, which experienced declines on a comparable store basis."
"Early reads on important back-to-school businesses such as childrens, young mens and juniors look promising. We continue to experience strong gross margin performance and expect our second quarter earnings to be within the range of our previous guidance of $0.81 to $0.85 per diluted share.”
On August 4, 2007, the Company operated 834 stores in 46 states, compared to 749 in 43 states at the same time last year.
Comments regarding the Company's sales results will be provided in a pre-recorded telephone message, which will be available for 36 hours, beginning at 8:30 AM EDT on Thursday, August 9.
Kohl's Corporation will release its second quarter earnings report on August 16, 2007 at 4:00 PM EDT. A conference call is scheduled at 5:00 PM EDT.
Investors will have the opportunity to listen to the conference call ten minutes prior to the start of the call. A replay of the conference call will be accessible for 30 days, from 8 PM EDT August 16 through midnight September 14, 2007.
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