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Kohl's June same-store sales rise 2.3 percent

CHICAGO
Thu Jul 10, 2008 11:32am EDT

CHICAGO (Reuters) - Kohl's Corp, a mid-priced department store chain, on Thursday reported that sales rose 2.3 percent in June at stores open at least a year, beating Wall Street estimates.

Stocks  |  Global Markets

Analysts on average were expecting Kohl's sales to increase 0.6 percent for the month, according to Thomson Reuters Estimates.

The company cited improvements in seasonal apparel such as shorts and T-shirts as the weather got warmer in parts of the United States. It also said that apparel, accessories and footwear contributed to higher same-store sales.

Inventory heading into July was well below year-earlier levels, the company said.

Kohl's, based in Menomonee Falls, Wisconsin, said total sales for the five weeks ended July 5 rose 10.9 percent to about $1.5 billion.

(Reporting by Erin Zureick; Editing by Steve Orlofsky)



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