Kohl's (KSS) Sept Sales Up 16.3%, Raises Q3 EPS Guidance

Kohl's Corporation (NYSE: KSS) said sales for the five-week period ended September 30, 2006 increased 26.1%. On a comparable store basis, sales increased 16.3%.

As a result of the recognition of the gift card breakage revenue, the Company is raising its guidance for the fiscal third quarter to $0.56 to $0.59 per diluted share from $0.53 to $0.56 per diluted share. The consensus is $0.56.

Larry Montgomery, Kohl's chairman and chief executive officer, said, "We are extremely pleased with our sales performance in September. We continue to see strong sales performance across all lines of business. All regions of the country experienced double-digit comparable store sales increases for the month. We are experiencing healthy increases in both transactions per store and average transaction value."

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