Same store sales back on the rise at Kohl's

Stronger demand for clothing and accessories during the holiday season helped Kohl's Corp. post an increase in same store sales for the fourth quarter after five straight quarters of decline.



The retailer reported that same store sales rose 3.7% for the fourth quarter. Net income rose 10.5% to $369 million, or $1.83 per share, while net sales increased 4% to $6.34 billion. Analysts on an average had expected earnings of $1.80 per share and revenue of $6.33 billion.



"Our fourth quarter results showed significant improvement as many of our Greatness Agenda initiatives took hold,” said Kevin Mansell, Kohl’s chairman, president and CEO. “Our 3.7% increase in comparable sales was driven by both transactions per store - a key area of focus - and average transaction value. The sales strength was broad as all lines of business and all geographic regions reported higher sales. Our teams managed both expenses and inventories well, allowing us to exceed our previous earnings guidance."



The company said it expected same store sales to rise by 1.5%-2.5% for the year 2015.



Kohl’s operates 1,162 stores in 49 states.