Kohl’s reported an
increase in holiday sales on Thursday compared to the
same period in 2018.
MENOMONEE FALLS —The holiday season was a jolly one for
retailer Kohl’s Corporation, which on Thursday reported
an increase of 1.2 percent in comparable sales,
resulting in the company improving its fiscal outlook.
According to the report, for the nine weeks ending Jan.
5, sales increased 1.2 percent compared to the same
holiday shopping period last year.
“We are delighted with our 1.2 percent shifted
comparable sales increase for the holiday period, which
builds on the positive momentum we have achieved
throughout the year,” said Michelle Gass, Kohl’s chief
executive officer, in a statement. “The organization
once again delivered a very strong holiday that topped
last year’s exceptional holiday season.”
Gass pointed to the Menomonee Falls-based retailer’s
product lineup, marketing strategy and online and store
“We are particularly pleased with the positive
transaction growth and the double-digit digital growth
we experienced this holiday, as our customers continue
to embrace the omnichannel investments we are making,”
Gass said. “I want to thank all of our teams across the
company who created and executed a great holiday plan
and a wonderful experience for our customers.” As a
result of Thursday’s earnings report, Kohl’s announced
it has increased its fiscal outlook.
According to the release, Kohl’s anticipates it fiscal
2018 diluted earnings per share to be $5.50 to $5.55,
compared to its prior guidance of $5.35 to $5.55. This
guidance excludes the debt extinguishment charge of $42
million, or $0.19 per diluted share, which was recorded
in the first quarter of fiscal 2018. It also excludes
other non-recurring charges the company anticipates
recording related to the voluntary debt redemption
announced in December 2018 and actions to be taken in
the fourth quarter as part of the Kohl’s operational