Home / Knowledge / News / Apparel/Garments / Sales rise marginally at Kohl's in Q1 FY'12
Sales rise marginally at Kohl's in Q1 FY'12
10
May '12
Kohl's Corporation reported results for the quarter ended April 28, 2012.

First Quarter Results
Kohl's Corporation reported first quarter net income of $154 million ($0.63 per diluted share) compared to $201 million ($0.69 per diluted share) a year ago. Net sales were $4.2 billion, an increase of 1.9 percent for the quarter. Comparable store sales for the quarter increased 0.2 percent.

Kevin Mansell, Kohl's chairman, president and chief executive officer, said, “Our first quarter results reflect the implementation of our strategy to initiate lower pricing in order to provide greater value to our customers.

“This planned action led to significantly lower gross margins for the quarter. Strong management of expenses allowed us to achieve our earnings goal for the quarter. We have accelerated new receipts into second quarter to ensure we are well-positioned from an inventory perspective for the Back-to-School season. The combination of these two actions should allow us to greatly improve our sales for the fall season.”

Quarterly Dividend Declared
On May 9, 2012, Kohl's Board of Directors declared a quarterly dividend on the Company's common stock of $0.32 per share. The dividend is payable June 27, 2012 to shareholders of record at the close of business on June 6, 2012.

Store Update
The Company ended the quarter with 1,134 stores in 49 states, compared with 1,097 stores at the same time last year. The Company opened nine new stores, including one relocated store, and closed one store during the quarter and plans to open approximately 10 more stores in the fall season. The Company plans to remodel approximately 50 stores in 2012.

Earnings Guidance – Second Quarter
The Company provided initial guidance for the fiscal quarter ending July 28, 2012 of $0.96 to $1.02 per diluted share. The guidance is based on total sales growth of 2 to 3 percent and comparable store sales growth of flat to 1 percent and includes expected second quarter share repurchases of $250 million. The Company maintains it's previously announced fiscal 2012 guidance of $4.75 per diluted share.

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 Corporation

Must ReadView All

Apparel/Garments | On 28th May 2017

Over 45% US retailers to use AI in next 3 years: Report

Over 45 per cent retailers in the US plan to utilise artificial...

Neelesh Hundekari speaking at the event. Courtesy: Subir Ghosh

Textiles | On 27th May 2017

Fabric of Change initiative announces €250000 scaling fund

The Fabric of Change initiative of Ashoka and the C&A Foundation is...

Apparel/Garments | On 28th May 2017

Naked Brand, Bendon sign agreement to reorganise

Naked Brand Group, a fashion and lifestyle brand, and Bendon Limited, ...

Interviews View All

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search