Kohl’s Q3 store tally hits 1158

REPORT_ Kohl’s provided initial guidance for the fiscal quarter ending February

1, 2014, of 1.59 dollars to 1.74 dollars per diluted share. The guidance is based on total sales declines of 2 to 4 percent and comparable store sales declines of 0 to 2 percent. The company also updated its annual earnings per share guidance from 4.15 dollars - 4.35 dollars to 4.08 dollars to 4.23 dollars. The company also announced that it will provide only annual guidance beginning in Fiscal 2014.

Kohl’s ended the third quarter with 1,158 stores in 49 states compared with 1,146 stores at the same time last year. The company opened three new stores during the third quarter and nine new stores during the first quarter of 2013. Additionally, the company remodeled 30 stores in 2013.

Kohl’s is based in Wisconsin. It is a department store offering apparel, shoes, accessories, beauty and home products. Kevin Mansell, Kohl’s chairman, president and Chief Executive Officer, said, “As we enter the holiday season, we believe we are well-positioned from a merchandise content and inventory perspective to gain market share. We have increased our marketing spending and improved its impact and reach in order to drive higher traffic to our stores and online. Our customer will find the perfect gift for everyone on her shopping list at Kohl’s and will be excited by the value she receives in both our only-at-Kohl’s and national brands.”