Attached files

file filename
8-K - MAY 2012 SALES RELEASE - KOHLS Corprrd347216.htm

KOHL'S CORPORATION REPORTS MAY COMPARABLE STORE SALES

MENOMONEE FALLS, WI, -- (Business Wire) - May 31, 2012 -- Kohl's Corporation (NYSE: KSS) reported today that for the four-week month ended May 26, 2012 total sales decreased 2.6 percent and comparable store sales decreased 4.2 percent from the four-week month ended May 28, 2011.

For the year-to-date period, total sales increased 0.8 percent and comparable store sales decreased 0.9 percent.

Kevin Mansell, Kohl's chairman, president and chief executive officer, commented, "May sales were lower than our expectations and, as a result, we now expect second quarter comparable store sales to be modestly negative. From a line of business perspective, we saw strength in Accessories. Our Men's and Women's businesses also outperformed the company average. The South Central and West were the strongest regions. We made some progress in building our inventory levels, but continue to expect lower units to hinder our sales until the Back-to-School season."

   

% Change .

 

Total Sales .

Total Sales .

Comparable Sales

($ in millions)

2012 .

2011 .

2012 .

2011 .

2012 .

2011 .

May

$ 1,337

$ 1,372

(2.6%)

2.5%

(4.2%)

0.8%

Year to Date

$ 5,580

$ 5,534

0.8%

3.0%

(0.9%)

1.2%

The Company opened nine new stores, including one relocated store, and closed one store in March 2012 and now operates 1,134 stores in 49 states, compared to 1,097 stores 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 from 8:30 a.m ET on Thursday, May 31, 2012 until 8:30 p.m ET on Friday, June 1, 2012. The toll-free, dial-in number for the replay is (888) 360-2596. (No pass code is required.)

Jefferies 2012 Global Consumer Conference

Wes McDonald, Senior Executive Vice President and Chief Financial Officer, will be presenting at the Jefferies 2012 Global Consumer Conference at the White Elephant, Nantucket, MA on June 19, 2012 at 9:30 a.m. ET. The live webcast and replay of this presentation will be available on our corporate website (www.KohlsCorporation.com/InvestorRelations/event-calendar.htm).

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. 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.

About Kohl's

Based in Menomonee Falls, Wis., Kohl's (NYSE: KSS) is a family-focused, value-oriented specialty department store offering moderately priced, exclusive and national brand apparel, shoes, accessories, beauty and home products in an exciting shopping environment. With a commitment to environmental leadership, Kohl's operates 1,134 stores in 49 states. In support of the communities it serves, Kohl's has raised more than $208 million for children's initiatives nationwide through its Kohl's Cares® cause merchandise program, which operates under Kohl's Cares, LLC, a wholly-owned subsidiary of Kohl's Department Stores, Inc. For a list of store locations and information, or for the added convenience of shopping online, visit www.Kohls.com, or join the discussion on Facebook http://www.facebook.com/kohls or Twitter http://twitter.com/Kohls.

Investor Relations:

Wes McDonald, Senior Executive Vice President and Chief Financial Officer, (262) 703-1893

Media:

Vicki Shamion, Senior Vice President - Public Relations, (262) 703-1464