Home furnishings led Kohl’s as it beat an analyst estimate on its way to posting a 4.5% comparable store sale gain in August. Analysts, on average, expected a 3.2% comp gain.
“Our August results were slightly better than planned,” said Kevin Mansell, Kohl’s chairman, president and CEO, in announcing the monthly figures. “From a line-of-business perspective, the home business reported the strongest comparable store sales for the month. Men’s and footwear also outperformed the company average.”
In the four–week period, Kohl’s top-line sales increased 7.7% to $1.42 billion versus the year-ago period. Total sales year to date have gained 9% to $9.55 billion as comps advanced by 5.7%.