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

To: Smiling Bob who wrote (6897)	2/6/2004 10:15:51 AM
From: Smiling Bob	Read Replies (1) \| Respond to of 19256

KSS - 48.04 bid at HOD - done Some nitwit upgraded, while other analyst rightly questions prospects The reality is, they're liquidating parkas to bolster sales Reuters UPDATE - Kohl's Jan. same-store sales up, backs qtr view Thursday February 5, 10:39 am ET By Angela Moore (Adds quote, stock price, byline) NEW YORK, Feb 5 (Reuters) - Kohl's Corp (NYSE:KSS - News), which runs a chain of mid-priced department stores, said Thursday January sales at stores open at least a year edged up 0.3 percent as cold weather in several key markets drove demand for winter clothes. ADVERTISEMENT Menomonee Falls, Wisconsin-based Kohl's backed its fourth- quarter earnings-per-share outlook of 68 cents to 70 cents, in line with the average of analysts estimates, according to Reuters Research. Last month Kohl's cut its fourth-quarter forecast range to 68 cents to 70 cents per share, from its previous outlook of 89 cents to 95 cents per share after a disappointing December. Kohl's shares rose $1.83, or 4.1 percent, to $46.92 in morning trading on the New York Stock Exchange (News - Websites) . Kohl's, a one-time Wall Street favorite, has struggled with slack sales and bloated inventory over the past several months. Analysts, on average, expected same-store sales to rise 1.1 percent. "It's not a layup from here but they've taken aggressive steps to right-size the women's apparel business, which has been the sore point in their operations," said Mark Mandel, a senior retail analyst with Blaylock & Partners. "It's been painful but I think we're through the worst of it." Sales of merchandise for the home and men's apparel rose in the mid-single digits. While accessories and women's clothing were two of the weakest areas. "As expected, the biggest disappointment for the month came from Kohl's," Deutsche Bank analyst Bill Dreher said. "In touring Kohl's stores in the Great Lakes region and the New York tri-state region, we continue to see excess inventory with heavy clearance racks. This brings first-quarter earnings into question." The strongest same-store sales came from the Northeastern United States, where cold weather and a New York tax holiday drove sales. Kohl's said total sales for the four weeks ended Jan. 31 rose 14.5 percent. (Additional reporting by Emily Kaiser)