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Kohl’s and TJX same-stores sales rise; J.C. Penney slips

9/3/2009

New York City Kohl's Corp. said Thursday that same-store sales edged up 0.2% in August, easily beating analysts' estimate of a decline of 1.7%.

Kohl's chairman, president and CEO Kevin Mansell said in a statement that the department store operator had strong sales of accessories and improved sales of women's products.

TJX Cos. also beat the Street, with a 5% rise in August same-store sales. Analysts, on average, had expected same-store sales to rise 3.9%.

At J.C. Penney Co., same-store sales slipped 7.9% in August, missing analysts' estimates. The results, however, were in range of J.C. Penney's own guidance, which was for a same-store sales drop-off of 6% to 9%.

The company said its home category was the softest during the month, with women's apparel and its children's division among the strongest performers.

Across the country, the Southeast and Southwest were the strongest regions while the Northeast was the weakest.

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