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Kohl's Q4 comparable store sales dip 2 percent

By FashionUnited

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REPORT_ Kohl’s Corporation has provided a fourth quarter

update including comparable store sales results and updated guidance for its fourth quarter and fiscal year 2013. Comparable store sales for the quarter decreased 2 percent; however, combined November and December comparable store sales witnessed 0.8 percent increase. January sales were significantly lower than planned as a result of lower traffic and low levels of clearance merchandise.

Unanticipated expenses in servicing its E-commerce business led to higher than expected costs for the quarter. As a result of these expenses, the Menomonee Falls-based company is lowering its fourth quarter diluted earnings per share estimates from 1.59 dollars to 1.74 dollars to approximately 1.53 dollars. Fiscal 2013 diluted earnings per share are now expected to be approximately 4.03 dollars, compared to previous guidance of 4.08 dollars to 4.23 dollars.

Kohl’s is a department store offering apparel, shoes, accessories, beauty and home products. Company operates 1,158 stores in 49 states.

Kohl's
Kohl’s Corporation