Home / Knowledge / News / Textiles / 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

Pic: XiXinXing / Shutterstock.com

E-commerce | On 11th May 2021

China's e-commerce logistics activities grow in April

E-commerce logistics sector in China showed moderate growth in April...

Pic: Phaustov / Shutterstock.com

Retail | On 11th May 2021

British retail company JD Sports acquires Manchester-based Oi Polloi

British sports fashion retail company JD Sports has acquired the...

Pic: Tufts University

Textiles | On 11th May 2021

Tufts University steps towards sustainability in leather by using silk

Scientists at the Tufts University School of Engineering have created ...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Blockchain is not a silver bullet for each and every problem in supply...

Textile Industry, Head honchos

Textile Industry
Head honchos

Increased need for online fitting solutions as retailers shift to...

Textile Industry, Head honchos

Textile Industry
Head honchos

Fashion tech has to be lean and very productive

Nina Smith,

Nina Smith

GoodWeave International, a nonprofit working to end child, forced and...

Nick Isles,

Nick Isles

The Condé Nast College of Fashion & Design or CNC as it is known as,...

Dr. Vijaya Kumar,

Dr. Vijaya Kumar

Dr MM Kariappa founded the Vogue Institute of Art & Design in 1996....

Daniel Kaye, RocketLife

Daniel Kaye
RocketLife

<div>RocketLife, an award-winning developer of breakthrough visual...

Daniel Roxbury, University of Rhode Island

Daniel Roxbury
University of Rhode Island

Assistant professor Daniel Roxbury and former URI graduate student...

Daniel Odermatt, Ventile

Daniel Odermatt
Ventile

Ventile is a registered trademark used to brand a special high-quality...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Anjali Bhaskar has an experience of 12 years in the fashion industry. She...

Seema Gujral, Label Seema Gujral

Seema Gujral
Label Seema Gujral

<b>Seema Gujral</b>'s designs for her eponymous label revolve around...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

Ruma Devi is a jet-setting promoter of artisans who has empowered...

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

Leave your Comments


May 2021

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


Advanced Search