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E-Commerce business perks up at Kohl's
Feb '12
Kohl's Corporation reported results for the quarter and year ended January 28, 2012. Kohl's reported fourth quarter diluted earnings per share increased 9% to $1.81. Net income for the quarter decreased 8% to $455 million, compared to $494 million ($1.66 per diluted share) a year ago. Net sales were $6.0 billion, a decrease of 0.3 percent from the prior year quarter. Comparable store sales for the quarter decreased 2.1%.

For the year, diluted earnings per share increased 17% to $4.30 and net income increased 4% to $1,167 million. Net sales were $18.8 billion, an increase of 2.2%. Comparable store sales increased 0.5%.

Kevin Mansell, Kohl's chairman, president and chief executive officer, said, "I am pleased that 2011 was another year of profitability and earnings per share growth for our shareholders."

"With the commitment of each of our 140,000 associates, we were able to navigate a difficult holiday sales season through strong expense and inventory management. We achieved a major milestone in 2011 with our E-Commerce business reporting $1 billion in revenues."

"We are starting 2012 with considerable brand excitement, with the launch of Rock and Republic, continued excitement from our Jennifer Lopez and Marc Anthony brands, and expansion of the successful ELLE and Simply Vera Vera Wang brands into new categories."

On February 22, 2012, Kohl's Board of Directors declared a quarterly cash dividend of $0.32 per share of Kohl's common stock; a $0.07 per share and 28% increase over previous quarterly dividends. The dividend is payable March 28, 2012 to shareholders of record at the close of business on March 7, 2012.

Kohl's opened 40 stores during 2011 and now has 1,127 stores in 49 states, compared with 1,089 stores at the same time last year. The Company remodeled 100 stores in 2011.

The Company issued its initial guidance for fiscal 2012. Based on assumptions of a total sales increase of 4.5% and a comparable store sales increase of 2%, the Company expects earnings per diluted share of $4.75 for the year.

For the first fiscal quarter, the Company expects earnings per diluted share of $0.60 based on assumptions of a total sales increase of 3% and a comparable store sales increase of 1%.

Based in Menomonee Falls, Wis., Kohl's 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. Kohl's operates 1,127 stores in 49 states with a commitment to environmental leadership.

Kohl's Corporation

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