US: Kohl's lifts guidance on better Q1 sales
Net income falls 3%
Total sales increase by 2.2%
Raises FY earnings guidance
US department store retailer Kohl's Corporation has raised its full-year earnings guidance after first quarter sales exceeded expectations.
Kevin Mansell, Kohl's president and chief executive officer, said sales "indicated market share gains across most merchandise areas and regions."
He added that demand for the retailer's private and exclusive brands had also boosted gross margins.
For the three months to 1 August, net sales rose 2.2% to $3.8bn, the retailer said today (13 August), but same-store sales for the quarter fell 2.3%.
Net income slipped 3% to $229m or $0.75 per share, from $236m, or $0.77 per share, a year ago.
Looking ahead, the company expects both third and fourth quarter sales to range from down 1% to up 1%, and comparable store sales falling between 3% and 5%.
For the fiscal year, its updated guidance is $2.59 to $2.70 per share.
US apparel company Jones Apparel Group continues to shutter stores in a bid to focus on core brands, but is not ruling out further acquisitions after the purchase of Robert Rodriguez Collection this m...
Retailer Sports Direct International Plc today (11 February) raised its full-year profits guidance for the second time in two months and said the Competition Commission has provisionally cleared its a...
UK sales values fell 0.7% during a desperate January for retailers, but fashion items continued to show some growth....
French luxury goods firm Hermès Group has posted an 8.5% increase in revenue for fiscal 2009, buoyed by the festive sales period....
US women's wear retailer Bebe Stores has seen first-half profit slip 91% as sales tumbled....
Specialty clothing retailer Gap Inc today (4 February) posted a 5% rise in both total and same-store sales in January, with growth seen across all its brands....
The following is a general roundup of US apparel and shoe chains' January 2010 sales results. The list will be updated as new results become available....
- Why do modern robotics elude sportswear makers?
- Traditional financing is a misfit for fast fashion
- Mexico makers bullish on Trump's proposed tariffs
- How would end of NAFTA affect US apparel industry?
- Bagir CEO says suit-maker is back on track
- Bagir exports first trousers for H&M from Ethiopia
- US Q3 in brief - G-III Apparel, Express
- Fruit of the Loom CEO Medlin dies suddenly
- Throwaway fast fashion model needs re-think
- Crystal expands empowerment project to male staff
- Outdoor performance apparel 2016: A broader perspective
- Global market review of lingerie – forecasts to 2022
- Global apparel markets: product developments and innovations, October 2016
- Footwear Top 5 Emerging Markets Industry Guide_2016
- REPORT BUNDLE: Africa-Med, Southeast Asia and Central America strategic sourcing pack