Kohl’s raises full-year earnings guidance

Menomonee Falls , Wis. – “Robust” is an accurate term to describe third-quarter results for Kohl’s, which late yesterday reported earnings per diluted share of $0.68 versus $0.45 a year ago, a 51% increase. Net income was $224.5 million compared to $155.1 million a year ago, a 45% increase.

Sales for the quarter increased 16.6% to $3.6 billion from $3.1 billion a year ago, while comparable store sales jogged in with an 8.5% rise.

An “extremely pleased” Larry Montgomery, chairman and ceo of the 817-store mid-tier chain, said, “We continue to see consistency in all lines of business and all regions of the country. This has allowed us to generate profitable market share growth. We believe we have great momentum entering the fourth quarter.”

In light of that momentum, Kohl’s upped its earnings guidance for fiscal 2006, from $3.04 to $3.13 per diluted share to $3.16 to $3.24 per diluted share. The company noted this “would result in an increase in earnings per diluted share of 30% to 33% over last year.” Kohl’s reaffirmed its guidance for the fourth fiscal quarter of $1.36 to $1.42 per diluted share.

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

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