Menomonee Falls WI, November 12--Kohl's reported earnings that increased 19 percent in the third quarter, to $143.8 million, or 42 cents a share. The results matched the average forecast of analysts surveyed by Thomson First Call.
In the same period last year, the company earned $121.2 million, or 35 cents a share.
Sales rose 15 percent to $2.74 billion from $2.39 billion. As previously reported, sales at stores open more than a year rose 1.2 percent.
"We believe we are well-positioned for the holiday season in terms of content and level of inventory, our in-store shopping environment and our marketing and advertising calendar," Larry Montgomery, Kohl's chairman and chief executive, said Thursday in a written statement.
The company operates 637 stores in 40 states and plans to open 95 stores in fiscal 2005, including 33 stores during its fiscal first quarter.
For the nine months ended Oct. 30, net income increased 20 percent to $413.3 million, or $1.20 a share, from the previous year's $344.3 million, or $1 a share. Net sales increased 13 percent to $7.6 billion from $6.7 billion. Comparable store sales were flat from the prior year.
