Kohl's pleased with comps, outlook raised

MENOMONEE FALLS, Wis. Kohl’s reported results for the quarter and year-to-date periods ended Oct. 31 with positive comparable-store sales and a raised outlook.

Kohl’s reported net income for the quarter ended Oct. 31 increased 20% to $193 million, or 63 cents per diluted share, compared with $160 million, or 52 cents per diluted share, a year ago. Net sales were $4.1 billion, an increase of 6.5% for the quarter. Comparable-store sales for the quarter increased 2.4%.

For the nine months ended Oct. 31, net income was $560 million, or $1.83 per diluted share, compared with $549 million, or $1.79 per diluted share, for the nine months ended Nov. 1 the prior year. Net sales increased 3.1% to $11.5 billion from $11.2 billion a year ago. Comparable-store sales decreased 1.3% for the same period.

For fourth quarter, the company expects total sales to increase between 3 and 6%; Comparable-store sales to range between negative 1 and positive 2%. This would result in earnings per diluted share of $1.14 to $1.24 for fourth quarter and $2.98 to $3.08 for fiscal 2009.