by Christopher Freeburn | February 7, 2013 11:17 am
January was a very good month for Kohl’s (NYSE:KSS).
The retailer reported on Thursday that January same-store sales jumped to $1.13 billion, up 13.3%, from $844 million in the same time last year. That topped Wall Street estimates, which had had same-stores sales rising just 3.1% last month, the Associated Press noted.
This January included an extra week not included in last year’s data. Excluding that week, same-store revenue for the fourth-quarter rose 1.9% compared to last year. Revenue for the quarter climbed to $6.34 billion, up 6%, from $6.01 billion in the prior year. That matched analysts’ revenue forecasts of $6.3 billion for the quarter.
Kohl’s, which operates 1,146 stores across the country, noted that sales rose highest in Western states. All product categories, except footwear, showed a double-digit increase compared to last year.
In September, Kohl’s was named one of the top 50 online retailers by the National Retail Federation. Kohl’s ranking topped traditional retail rivals, including JCPenney (NYSE:JCP), Target (NYSE:TGT), Macy’s (NYSE:M) and Sears (NASDAQ:SHLD).
Despite the good news, shares of Kohl’s fell almost 2% in Thursday morning trading.
Source URL: https://investorplace.com/2013/02/kohls-blows-away-january-sales-estimates/
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