The holiday shopping was bright at Kohl’s as the retailer reported a 6.9% increase in total and comparable store sales for a time frame covering November and December.
Kevin Mansell, Kohl’s chairman, CEO and president, said that all lines of business and all regions reported positive comparable store sales and digital demand “accelerated significantly” over the holiday period. In addition, he said the company also experienced positive sales in stores driven by stronger traffic.
Based on stronger than expected holiday sales and expectations for fiscal January, Kohl’s now expects its fiscal 2017 diluted earnings per share to be $4.10 to $4.20 versus its previous guidance of $3.72 to $3.92. Excluding the company’s previously disclosed fourth quarter tax settlement of $30 million, diluted earnings per share are expected to be $3.98 to $4.08, compared to its prior guidance of $3.60 to $3.80.