Kohl's Nov. Same-Store Sales Fell 17.5%

Menomonee Falls, Wis. Kohl's Corp. reported its November same-store sales dropped 17.5% as shoppers continued to cut back on spending due to the economy.

Meanwhile, Kohl's said net sales fell 13.7% to $1.75 billion, down from $2.02 billion last year.

"November sales results were as expected, affected by both lower traffic than last year, and a significant sales shift due to a later Thanksgiving," president and CEO Kevin Mansell said in a statement, adding that the company's post-Thanksgiving results were "significantly stronger" than previous trends.