Kohl's Corporation reported net sales and earnings for the second quarter ended August 4, 2007.
Kohl's Corporation second quarter earnings per diluted share increased 20.3 percent to $0.83 from $0.69 in last year's period. Net income was $269.2 million compared with $232.4 million a year ago, an increase of 15.9 percent. Net sales increased to $3.6 billion from $3.3 billion a year ago, an increase of 8.7 percent for the quarter. Comparable store sales increased 1.3 percent for the same period.
For the six months ended August 4, 2007, net income increased 19.7 percent to $478.2 million or $1.48 per diluted share, compared to $399.6 million or $1.17 per diluted share for the six months ended July 29, 2006. Net sales increased 10.2 percent to $7.2 billion from $6.5 billion a year ago. Comparable store sales increased 2.5 percent for the same period.
Larry Montgomery, Kohl's chairman and chief executive officer, said, “After a strong start to the quarter in May, our sales performance was affected by the performance of our seasonal businesses in June and July. Strength in our other businesses remained consistent and our early read on back-to-school is positive. We continue to achieve improvement in our operating margin in excess of both our short-term and long-range goals.”
Montgomery added, “I am very proud of our associates and the role they played in delivering these results and want to thank them for their hard work, loyalty and dedication to serving our customers. They are the reason you can continue to 'expect great things' from Kohl's.”
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