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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 (6967)	2/26/2004 4:50:21 PM
From: Smiling Bob	Respond to of 19256

KSS - 50.50 - Opening 95 more stores to have a broader measure of declining comp sales and multiply their reduced margins? All down from here - they're cooked Reuters RPT-UPDATE - Kohl's fourth-quarter profit down Thursday February 26, 4:38 pm ET (Repeats to fix typo in headline) (Adds sales, store opening plans.) CHICAGO, Feb 26 (Reuters) - Kohl's Corp. (NYSE:KSS - News) on Thursday reported a drop in quarterly profit, as it slashed prices in order to clear out merchandise at its namesake mid-priced department stores. ADVERTISEMENT The Menomonee Falls, Wisconsin-based company posted net income of $246.8 million, or 72 cents per share, for the fourth quarter ended Jan. 31, compared with $279 million, or 81 cents, a year earlier. Analysts, on average, had been expecting it to earn 69 cents per share, according to Reuters Research, a unit of Reuters Plc. But that estimate was far below what the company had initially forecast. Kohl's on Jan. 8 lowered its forecast to 68 cents to 70 cents per share from its Nov. 13 projection of 89 cents to 95 cents per share. Quarterly sales rose 11.9 percent to $3.56 billion, while same-store sales, a key measure of retail performance, fell 2.1 percent. Kohl's, which opened 85 new stores in fiscal year 2004, said it plans to open 95 stores this year and another 95 next year.