(Filed Under Financial and General Interest News). During the first quarter ended May 1, 2010, Kohl’s Corporation cited a 10.9 percent increase in net sales, which totaled $137 million. Comparable store stores grew 7.4 percent.
During the quarter, the company opened nine stores, ending it with 1,067 stores in 49 states, compared with 1,022 stores in 49 states at the same time last year. Kohl’s expects to open an additional 21 stores this year for a total of 30 stores in fiscal 2010. It also remodeled 17 stores during the quarter, and expects to remodel 68 stores by the end of this year.
Kevin Mansell, chairman, president and chief executive officer of Koh’s, described the company’s performance during the quarter as successful. “We achieved our goal of gaining market share through our performance in both comparable and total sales growth in the first quarter,” he said. “We improved our merchandise margins significantly through strong inventory management and successful private and exclusive brand strategies. Expenses were well managed while improving the store experience for customers. I am very proud of our 130,000 associates and the role they played in these results and want to thank them for their hard work, loyalty and dedication in delivering on our promise to ‘expect great things’ from Kohl’s.”
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