Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Can you beat 50% per month? -- Ignore unavailable to you. Want to Upgrade?

To: Smiling Bob who wrote (6581)	11/6/2003 12:28:35 PM
From: Smiling Bob	Read Replies (1) \| Respond to of 19256

KSS - news not good - they are quickly losing ground - Under 40 in January Possible worse fate later on On it long before JPM's downgrade Who upgraded in Aug - at the high? Message 19213112 Kohl's October Same-Store Sales Fell 11.6% Thursday November 6, 10:42 am ET MENOMONEE FALLS, Wis. (Dow Jones)--Kohl's Corp. (NYSE:KSS - News) said October same-store sales fell 11.6%, more than Wall Street's projection of a 6.5% decline, because of markdowns and "disappointing" comparable-store sales. ADVERTISEMENT As a result, the company reduced its third-quarter earnings estimate to about 35 cents a share from the 44-cents-a-share estimate it provided in July. The 11.6% decline in same-store sales compares to an 18.3% same-store sales increase a year ago, Kohl's said in a press release Thursday. "The strong increase last year was driven by significant increases in seasonal classifications. These classifications experienced significant declines this year," Chief Executive Larry Montgomery said in the release. Total sales for the four weeks ended Nov. 1 increased 2.9% to $823.1 million from $799.1 million a year ago. For the third quarter ended Nov. 1, Kohl's Corp.'s same-store sales fell 1.3% while total sales increased 11.7% to $2.39 billion from $2.14 billion a year ago. For the nine months, same-store sales decreased 1% while total sales were up 13.2% to $6.72 billion from $5.94 billion a year earlier. In a prerecorded telephone message, the operator of family-oriented department stores said it experienced double-digit growth, particularly in the kids, women's and accessories segments, last year as opposed to this year. Kohl's noted it hasn't seen extended periods of cold weather yet this year and hasn't experienced sales of higher ticketed items such as outerwear and sweaters this year versus last year. Kohl's Corp. said it took deeper markdowns in the quarter in Women's apparel to be appropriately positioned for the holiday season. "Our inventory is well positioned going into the fourth quarter," the company said in its release. In its message, Kohl's said its inventory level is up about 17% over last year and the company is "comfortable with the content and quantities going in the fourth quarter." Kohl's will hold a third-quarter earnings conference Nov. 13 at 5:00 p.m. EST. Company Web site: kohls.com -Daniel Martinez; Dow Jones Newswires; 201-938-5400 biz.yahoo.com