Kohl's February same-store sales fall 3.8 pct
ATLANTA (Reuters) - Kohl's Corp (KSS.N), a mid-priced department store chain, on Thursday reported that February sales at stores open at least a year fell 3.8 percent as the softer U.S. economy pressured consumer spending.
Analysts on average were expecting same-store sales to fall 4.1 percent, according to Reuters Estimates.
Kohl's, based in Menomonee Falls, Wisconsin, said total sales for the four weeks ended March 1 rose 4.6 percent to $971.6 million.
On a recorded call, the company said the U.S. Midwest was the strongest region, while accessories was the best-performing category for the month. Early spring selling in categories such as dresses and swimwear was "promising," it added.
Kohl's, which offers exclusive brands such as Simply Vera clothing and accessories by designer Vera Wang, has increased promotional activity in recent months to attract customers facing higher prices for food and gasoline.
In late February, Kohl's reported lower fourth-quarter profit and said 2008 would be a challenging year.
(Reporting by Karen Jacobs, Editing by John Wallace)
