Kohl's April comps down 6.2%

MENOMONEE FALLS, Wis. Kohl’s reported that total sales for the four-week month ended May 2 decreased 2.3% from the four-week month ended May 3, 2008. On a comparable-store basis, sales decreased 6.2%.

For the quarter and year-to-date period, total sales increased 0.4% and comparable-store sales decreased 4.2%.

Kevin Mansell, Kohl’s president and CEO, commented, “Sales results for April exceeded our expectations. Childrens outperformed the Company from a line-of-business perspective and the Southwest was our strongest performing region. As a result of our sales results and inventory management initiatives, our gross margin for the quarter was stronger than planned and our expenses remained well controlled. We now expect earnings of 43 cents to 44 cents per diluted share for the first quarter of fiscal 2009, exceeding our previous guidance of 27 cents to 34 cents per diluted share."