) posted negative same-store sales results for the month of April
compared with the prior year period. The total sales for the period
also decreased, due to early arrival of Easter and warm weather in
the month of March.
Amid a challenging sales environment, Kohl's comparable store
sales dipped 3.5% for the four-weeks ended April 28, 2012, after an
increase of 10.2% in the four-week month ended April 30, 2011.
Kohl's total sales dipped 1.9% in the month of April 2012 to $1.25
billion, as compared to 12.1% growth with sales of $1.28
billion in the year-ago month.
However, same-store sales for the quarter ending April 28
increased 0.2%, while total sales climbed 1.9%, driven by
accessories and home divisions along with positive response in
Kohl's, which is slated to release its first quarter 2012
earnings on May 10, expects comparable store sales to increase 1%
and sales to increase 3% in the quarter. Kohl's also expects total
sales to go up by 4.5%, and comparable store sales forecast to
increase by 2% for the fiscal 2012, driven by new product launches
of Rock & Republic brand (launched in February 2012) and other
brands of Jennifer Lopez and Marc Anthony launched in the
third-quarter of 2011.
On the other hand, same-store sales at Kohl's competitor,
Ross Stores Inc.
) reported growth in same-store sales for the four weeks ended
April 28, 2012 of 7%. However, the positive store sales did not
exceed the stronger same-store sales growth of 10% in the month of
April 2011. Net sales for the month marked an increase of 11% to
$725 million from $651 million reported in the prior year
Kohl's, which operates 1,134 stores in 49 states, holds a Zacks
#3 Rank (short-term 'Hold' rating). Currently, we maintain a
long-term Neutral recommendation on the stock.
KOHLS CORP (KSS): Free Stock Analysis Report
ROSS STORES (ROST): Free Stock Analysis Report
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