Kohl's Corporation Reports December Comparable Store Sales

  Kohl's Corporation Reports December Comparable Store Sales

Business Wire

MENOMONEE FALLS, Wis. -- January 3, 2013

Kohl’s Corporation (NYSE: KSS) reported today that for the five-week month
ended December 29, 2012 total sales increased 4.0 percent and comparable store
sales increased 3.4 percent over the five-week month ended December 31, 2011.
For the November and December period, total sales increased 0.7 percent and
comparable store sales increased 0.1 percent. Year to date, total sales
increased 1.0 percent and comparable store sales decreased 0.3 percent.

Kevin Mansell, Kohl’s chairman, president and chief executive officer,
commented, “December sales were lower than planned. Additionally, sales came
late in the holiday shopping season and, as a result, were at deeper discounts
than planned. We are taking the necessary markdowns in the fourth quarter to
manage our inventory as we transition into the Spring season.”

                                  
                                      % Change
              Total Sales             Total Sales      Comparable Store Sales
($ in         2012      2011         2012   2011      2012         2011
millions)
December      $ 3,374    $ 3,246      4.0 %   1.7  %    3.4    %      (0.1  %)
Quarter to    $ 5,210    $ 5,176      0.7 %   (0.7 %)   0.1    %      (2.5  %)
Date
Year to       $ 18,147   $ 17,962     1.0 %   2.3  %    (0.3   %)     0.5   %
Date
                                                                            

As a result of its quarter-to-date performance, the Company now expects
diluted earnings per share of $1.60 to $1.62 for the fourth quarter and $4.11
to $4.13 for fiscal 2012 versus its previous guidance of $2.00 to $2.08 for
the fourth quarter and $4.52 to $4.60 for fiscal 2012.

E-Commerce sales increased 46 percent over December 2011. The West was the
strongest region for the month with a low single-digit increase in comparable
store sales. The Midwest was slightly positive and all other regions reported
low single-digit comparable store sales declines. Children’s was the strongest
line of business. Additional comments regarding the Company’s sales results
will be provided in a pre-recorded telephone message, which will be available
from 8:30 am ET on Thursday, January 3, 2013 until 8:30 pm ET on Friday,
January 4, 2013. The toll-free, dial-in number for the replay is (888)
360-2596. (No pass code is required.)

The Company operates 1,146 stores in 49 states, compared to 1,127 stores at
the same time last year.

Cautionary Statement Regarding Forward-Looking Information

This press release contains “forward-looking statements” within the meaning of
the Private Securities Litigation Reform Act of 1995. Kohl's intends
forward-looking terminology such as “believes,” “expects,” “may,” “will,”
“should,” “anticipates,” “plans,” or similar expressions to identify
forward-looking statements. Such statements are subject to certain risks and
uncertainties, which could cause Kohl's actual results to differ materially
from those anticipated by the forward-looking statements. These risks and
uncertainties include, but are not limited to those described in Item 1A in
Kohl’s Annual Report on Form 10-K, which is expressly incorporated herein by
reference, and other factors as may periodically be described in Kohl's
filings with the SEC.

About Kohl’s

Based in Menomonee Falls, Wis., Kohl’s (NYSE: KSS) is a family-focused,
value-oriented specialty department store offering moderately priced,
exclusive and national brand apparel, shoes, accessories, beauty and home
products in an exciting shopping environment. With a commitment to
environmental leadership, Kohl’s operates1,146stores in 49 states. In
support of the communities it serves, Kohl’s has raised more than$208million
for children’s initiatives nationwide through its Kohl’s Cares® cause
merchandise program, which operates under Kohl's Cares, LLC, a wholly-owned
subsidiary of Kohl's Department Stores, Inc. For a list of store locations and
information, or for the added convenience of shopping online,
visitwww.Kohls.com,or join the discussion on Facebook
http://www.facebook.com/kohlsor Twitterhttp://twitter.com/Kohls.

Contact:

Kohl’s Corporation
Investor Relations:
Wes McDonald, Senior Executive Vice President and Chief Financial Officer
(262) 703-1893
or
Media:
Jen Johnson, Director – Public Relations
(262) 703-5241
 
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