Kohl's Corporation (NYSE:KSS)
December 2011 Sales/ Trading Statement
January 05, 2012 12:00 am ET
Vicki Shamion - Senior Vice President of Public Relations
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 So if you are listening after January 5, it is possible that the information discussed is no longer current.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.
Copyright policy: All transcripts on this site are the copyright of Seeking Alpha. However, we view them as an important resource for bloggers and journalists, and are excited to contribute to the democratization of financial information on the Internet. (Until now investors have had to pay thousands of dollars in subscription fees for transcripts.) So our reproduction policy is as follows: You may quote up to 400 words of any transcript on the condition that you attribute the transcript to Seeking Alpha and either link to the original transcript or to www.SeekingAlpha.com. All other use is prohibited.
THE INFORMATION CONTAINED HERE IS A TEXTUAL REPRESENTATION OF THE APPLICABLE COMPANY'S CONFERENCE CALL, CONFERENCE PRESENTATION OR OTHER AUDIO PRESENTATION, AND WHILE EFFORTS ARE MADE TO PROVIDE AN ACCURATE TRANSCRIPTION, THERE MAY BE MATERIAL ERRORS, OMISSIONS, OR INACCURACIES IN THE REPORTING OF THE SUBSTANCE OF THE AUDIO PRESENTATIONS. IN NO WAY DOES SEEKING ALPHA ASSUME ANY RESPONSIBILITY FOR ANY INVESTMENT OR OTHER DECISIONS MADE BASED UPON THE INFORMATION PROVIDED ON THIS WEB SITE OR IN ANY TRANSCRIPT. USERS ARE ADVISED TO REVIEW THE APPLICABLE COMPANY'S AUDIO PRESENTATION ITSELF AND THE APPLICABLE COMPANY'S SEC FILINGS BEFORE MAKING ANY INVESTMENT OR OTHER DECISIONS.
If you have any additional questions about our online transcripts, please contact us at: firstname.lastname@example.org. Thank you!