The holidays were not kind to Kohl’s Corp., which reported a comparable sales decrease of 2.1% in the November/December time frame versus the period a year prior.
Total sales for the combined November and December period slipped 2.7%.
By department, men’s, home and footwear performed best while accessories was soft. On a geographical basis, Kohl’s noted, the Southeast, Mid-Atlantic and Northeast were the top performing regions.
“Sales were volatile throughout the holiday season. Strong sales on Black Friday and during the week before Christmas were offset by softness in early November and December,” said Kevin Mansell, Kohl’s chairman, president and CEO.
The company added that it now expects fiscal 2016 diluted earnings per share to be in the $2.92 to $2.97 range versus its previous guidance of $3.12 to $3.32 per diluted share. Excluding impairments, store closing and other costs, Kohl’s expects diluted earnings per share in the fiscal year to come in at $3.60 to $3.65 versus its previously stated guidance of $3.80 to $4 per diluted share.
