Kohl's reports monthly comps drop

MENOMONEE FALLS, Wis. Kohl’s reported that total sales for the October period decreased 4.8% from the same period last year. On a comparable-store basis, sales decreased 9%.

Total year-to-date sales were up 1.5% over the comparable prior year period. On a comparable-store basis, year-to-date sales decreased 6.%.

Kevin Mansell, Kohl’s president and ceo, commented, “October’s results continue to show that our customers are focused on need and value in their purchases. We are managing inventory levels, gross margin and expenses to our sales trends to maximize our earnings.” 

The company continues to expect earnings to be at the low end of its previously announced guidance of 51 cents to 56 cents per diluted share.