Department store chain Kohl's Corporation that sales for the four-week period ended November 26, 2005 increased 10.9 percent over the four-week period ended November 27, 2004. On a comparable store basis, sales decreased 0.1 percent.
For the 43 weeks ended November 26, 2005 total sales were up 14.2 percent while comparable store sales increased 3.4 percent.
Larry Montgomery, Kohl's Chairman and Chief Executive Officer, commented, "Company is disappointed with the overall level of sales in November, the last ten days of the month were strong, including the two post-Thanksgiving days. This fact, along with the extra selling day before Christmas, gives us confidence that sales will improve significantly in December. Continue to believe to achieve a mid-single digit comparable store sales increase for the fourth quarter and are maintaining guidance for earnings per diluted share of $1.10 to $1.14."
On November 26, 2005, the Company operated 732 stores in 41 states, compared with 637 stores in 40 states at the same time last year.
Comments regarding the Company's sales results will be provided in a pre-recorded telephone message. This message is accessible by calling (630) 652-3100 and will be available for 36 hours.
Kohl's Corporation will end the year with 732 stores in 41 states, compared to 637 stores in 40 states at the end of 2004.
The Company continues to expect to add 500 stores by the end of fiscal 2010 and is targeting opening 200 stores in the next two years. The Company plans to open approximately 70-80 stores in fiscal 2006 with approximately 17 stores opening during the first quarter, including its entry into the Pacific Northwest in the Portland, OR market.
marketing@alchempro.com
