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Kohl’s forecasts Q3 same-sales drop, e-commerce gain


Menomonee Falls, Wis. - Kohl’s Corp. expects same-store sales to decrease 1.4% in the third quarter of fiscal 2014. The company said October sales have been softer than the balance of the quarter.

Geographically, Kohl’s expects sales to be consistent across all regions. E-commerce sales are expected to increase more than 30%. By line of business, the company expects children’s to report same-store sales increases for the quarter.

Accessories, footwear and men’s are expected to report lower sales, but to outperform the company average. Home and women’s are expected to underperform the company average.

Based on actual sales to date, Kohl’s expects its 2014 diluted earnings per share to be at the low end of its prior guidance, which was previously $4.05 - $4.45 per diluted share.
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