Vicki Shamion - Senior Vice President of Public Relations
Kohl's Corporation (KSS) December 2011 Sales/ Trading Statement January 5, 2012 ET
Thank you for calling the Kohl's sales information line. Information provided on this call is related to the press release issued on January 5 for the December fiscal month. Statements made on this call, including projected financial results, are forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected in such forward-looking statements. Such risks and uncertainties include those that are described in Item 1A in Kohl's Annual Report on Form 10-K/A and as may be supplemented from time to time in Kohl's other filings with the SEC, all of which are expressly incorporated herein by reference. Also, please note that replays of this call will be available for 36 hours, but this recording will not be updated. So if you are listening after January 5, it is possible that the information discussed is no longer current.
December's comp sales decreased 0.1%. Total sales for the 5-week December fiscal month were $3.2 billion, a 1.7% increase over December 2010. Quarter-to-date, total sales decreased 0.7% and comp sales decreased 2.5%. Year-to-date, total sales have increased 2.3% while comparable sales have increased 0.5%. The Midwest and Northeast were the strongest regions but were slightly negative. The South Central and Mid-Atlantic regions were down low single-digits. The Southeast and West reported mid-single-digit decreases. E-commerce sales increased 48% for the month. Accessories reported the strongest comp for the month. Sterling silver jewelry was the strongest category. Accessories and handbags and fashion jewelry achieved low single-digit increases.
Children's and home reported low single-digit comp increases. All children's categories reported increases, with toys being the strongest. Electrics continued to be strongest performer in the home business with a 19% increase for the month and a 12% increase year-to-date. Bedding and bath also reported comp sales increases. Men's, footwear and women's were below the company average. Notable performers in men's included basics, dress shirts and ties and young men's.
In footwear, women's and junior shoes reported high single-digit comp increases but were more than offset by declines in athletic, kids and men's shoes. In the women's business, contemporary sportswear and sleepwear achieved low single-digit increases. We remain comfortable with the level and content of our inventory. We expect to end the quarter up low single-digits in inventory per store versus last year.
As a result of our quarter-to-date performance, we now expect diluted earnings per share of $1.70 to $1.73 for the fourth quarter and $4.20 to $4.23 for fiscal 2011 versus our previous guidance of $1.93 to $2.04 for the fourth quarter and $4.41 to $4.52 for fiscal 2011. We will report January sales on Thursday, February 2. Thank you.
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