Home / Knowledge / News / Kohl's management raises fiscal 2010 earnings guidance
Kohl's management raises fiscal 2010 earnings guidance
14
May '10
Kohl's Corporation reported results for the quarter ended May 1, 2010.

First Quarter Results
Kohl's Corporation reported net income for the quarter ended May 1, 2010 of $199 million, or $0.64 per diluted share, compared with $137 million, or $0.45 per diluted share, a year ago. Net sales were $4.0 billion, an increase of 10.9 percent for the quarter. Comparable store sales for the quarter increased 7.4 percent.

Kevin Mansell, Kohl's chairman, president and chief executive officer, said, “We achieved our goal of gaining market share through our performance in both comparable and total sales growth in the first quarter. We improved our merchandise margins significantly through strong inventory management and successful private and exclusive brand strategies. Expenses were well managed while improving the store experience for our customers. I am very proud of our 130,000 associates and the role they played in these results and want to thank them for their hard work, loyalty and dedication in delivering on our promise to 'expect great things' from Kohl's."

Mansell added, “Consumers appeared to be a little more confident in their spending, but remain focused on value and ways to make their dollars go farther. We will continue to be flexible in our sales and inventory planning as well as expense management in order to react to changes in consumer demand.”

Expansion Update
During the quarter, Kohl's successfully opened nine stores. The Company ended the quarter with 1,067 stores in 49 states, compared with 1,022 stores in 49 states at the same time last year. The Company expects to open an additional 21 stores later this year for a total of 30 stores in fiscal 2010. The Company completed the remodel of 17 stores during the quarter ended May 1, 2010 and expects to remodel an additional 68 stores later this year.

Earnings Guidance – Second Quarter and Fiscal 2010
The Company provided initial guidance for its second fiscal quarter ending July 31, 2010 of $0.70 to $0.75 per diluted share. The Company also updated its guidance for fiscal 2010 to $3.57 to $3.75 per diluted share, reflecting its first quarter results, from its initial guidance of $3.40 to $3.63 per diluted share.

Kohl's Corporation

Must ReadView All

Textiles | On 19th Jan 2017

Pakistan imposes duty on Indian fine cotton yarn

A provisional countervailing duty ranging from Rs 26.89 to Rs 55.8 a...

Textiles | On 19th Jan 2017

Union Budget: Textile sector expects excise duty revisions

Excise duty on man-made fibres should be reduced to bring it on par...

Union textiles minister Smriti Irani at the inauguration of IIGF in New Delhi with textiles secretary Rashmi Verma and other dignitaries. Courtesy: PIB

Apparel/Garments | On 19th Jan 2017

Ministry to reimburse apparel exporters for state levies

The textile ministry has received a sum of Rs 500 crore from the...

Interviews View All

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Priyanka
Studio Priyanka Rajiv

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

Dinaz Madhukar
DLF Emporio and DLF Promenade

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

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Giorgio Mantovani
Corman S.p.A

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

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search