Kohl's Dec. comps down 1.4%

MENOMONEE FALLS, Wis. Kohl’s reported that total sales for the five-week month ended Jan. 3 increased 3.6% over the five-week month ended January 5, 2008. On a comparable store basis, sales decreased 1.4%.

Kevin Mansell, Kohl’s president and CEO, commented, “December sales results were aided by last minute shoppers and strong post-Christmas business. Inventory levels, particularly seasonal clearance, are significantly below last year. Going forward, we intend to continue to plan sales and inventory conservatively in order to maximize profitability."

Given that January is heavily driven by end of season clearance, the company's expectation for January comparable sales performance is a decrease of mid to high teens.