Kohl’s Corp. has slightly revised its second quarter earnings guidance as a result of a total sales decrease of 2.6% and a same-store decrease of 4.2% for the five-week month that ended on July 2.
The Menomonee Falls-based retailer now expects second-quarter diluted earnings per share at the low end of its previous guidance of $0.96 to $1.02.
Kohl’s reported that total sales for the month were $1.708 billion, compared to the $1.754 billion in June of 2011. Men’s and footwear lines were the strongest business categories, while the Midwest was the strongest region.
The company, which operates 1,134 stores in 49 states, released this statement form Kevin Mansell, chairman, president and CEO: “Though June sales were again lower than expectations, we are encouraged by improved sales in the latter weeks of the month as we continued to build inventory levels.”
Read the full article.
