Kohl's March comps tumble

MENOMONEE FALLS, Wis. Kohl’s reported today that sales for the five-week period ended April 5 decreased 7.9% over the five-week period ended April 7. On a comparable-store basis, sales decreased 15.5%. For the nine weeks ended April 5, total sales decreased 3.2% and comparable-store sales decreased 11.1%.

Larry Montgomery, Kohl’s chairman and ceo, commented, “Sales in weather-sensitive businesses such as shorts, tanks, polos and sandals experienced significant declines on a comparable store basis, contributing to our sales shortfall. We have been conservative in our inventory planning and expense management and will continue to do so until the environment improves.” 

The company now expects its first quarter comparable sales to be in the negative high-single digit range and its earnings to be 40 cents to 42 cents per diluted share.