Kohl’s Q4 same-store sales decline, lowers guidance

Menomonee Falls, Wis. – Kohl's Corp on Thursday lowered its profit forecast for the fourth quarter after the retailer reported a 2% decrease in same-store sales in January.

Combined November and December same-store sales rose 0.8%, but the company said January sales were significantly lower than planned as a result of lower traffic and low levels of clearance merchandise.

Unanticipated expenses in servicing Kohl’s e-commerce business led to higher than expected costs for the quarter. As a result of these expenses, Kohl’s is lowering its fourth quarter diluted earnings per share estimates from $1.59 to $1.74 to approximately $1.53. Fiscal 2013 diluted earnings per share are now expected to be approximately $4.03, compared to previous guidance of $4.08 to $4.23.

Kohl’s will release its detailed report on the fourth quarter and full year as scheduled on Feb. 27, 2014.

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