April 12, 2007
KOHL'S CORPORATION REPORTS MARCH COMPARABLE STORE SALES INCREASE
OF 16.8 PERCENT
MENOMONEE FALLS, Wis., April 12, 2007 Kohl's Corporation
(NYSE: KSS) reported today that sales for the five-week period ended
April 7, 2007 increased 25.4 percent over the five-week period ended
April 1, 2006. On a comparable store basis, sales increased 16.8
percent. For the nine weeks ended April 7, 2007, total sales increased
20.4 percent while comparable store sales increased 11.8 percent.
Larry Montgomery, Kohl's chairman and chief executive officer,
commented, "March sales results were driven by strong performance
in spring apparel categories such as shorts, tees, tanks, dresses,
and swimwear. The earlier Easter holiday this year also benefited
March sales. As a result, we now expect to achieve approximately
a 5% comparable sales increase for the first quarter versus our
earlier expectations of a 2%-4% comparable sales increase. This
would imply a March/April combined comparable sales increase of
5% to 6%."
|
Sales Summary ($ in millions)
|
|
|
Fiscal Period Ended
|
%
Increase
|
This Year
|
| |
April 7,
2007
|
April 1,
2006
|
All Stores
|
Comp Stores
|
|
March
|
$ 1,547.7
|
$ 1,233.8
|
25.4%
|
16.8%
|
|
YTD
|
$ 2,477.0
|
$ 2,057.5
|
20.4%
|
11.8%
|
On April 7, 2007, the Company operated 824 stores in 45 states,
compared to 741 in 41 states at the same time last year.
The Company celebrates the grand opening of ten new stores today,
which includes its initial entry into Idaho.
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, April 12. The dial-in
number for the replay is (719) 457-0820 (Pass Code: 2080436).
Cautionary Statement Regarding Forward-Looking
Information
This press release contains "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995, including guidance on the Company's targeted
sales and earnings. Kohl's intends forward-looking terminology such
as "believes," "expects," "may," "will,"
"should," "anticipates," "plans,"
or similar expressions to identify forward-looking statements. Such
statements are subject to certain risks and uncertainties, which
could cause Kohl's actual results to differ materially from those
anticipated by the forward-looking statements. These risks and uncertainties
include, but are not limited to those described in Item 1A in Kohl's
annual report on Form 10-K, which is expressly incorporated herein
by reference, and other factors as may periodically be described
in Kohl's filings with the SEC.
# # #
Investor Relations Contact:
Wes McDonald, Chief Financial Officer, (262) 703-1893
Public Relations Contact:
Vicki Shamion, Vice President of Public Relations, (262) 703-1464
|