NEW YORK - Just as department stores are bouncing back from The Recession, They Are Beginning To Worry That sharply High Cost for cotton, oil and Other commodities could "hobble Their recovery.
Kohl's Corp.. Said Thursday That fourth-quarter net icts Income Increased 14 percent as shoppers Bought more shoes and men's clothing. But The mid-price chain aussi Said icts Customers Will Remain Cautious in 2011 - And That Could Make Coping with High Commodity Prices More Challenging for The Company.
Kohl's forecast earnings for fiscal year The Current below Wall Street's expectations.
In the Fourth Quarter, it Earned $ 493 million, or $ 1.66 per share, Compared with $ 431 million, or $ 1.40 per share, a year discussed earlier.
This narrowly beat analysts' average forecast for $ 1.65 per share, According to FactSet.
Kohl's back pour la période That ended in January29 climbed 6 percent to $ 6.04 one billion from $ 5.68 billion, beating Wall Street's just forecast for $ 6.03 trillion.
Quarterly revenue at stores open at least a year rose 4.3 percent. The comparison IS regarded a key gauge of a retailer's tax santé Because it blinds exclude That Opened gold closed "during the year.
Kohl's shares rose $ 1.78, or 3.4 percent, to close at $ 53.80.
The company Said icts Often Customers shopped more and more is Spent Each Item, goal THEY Bought less in total: Transactions per store rose 5.4 percent, to 1.1 units per transaction Fell percent.
Kohl's, based in Menomonee Falls, Wis.., Icts Announced first-ever dividend Wednesday, and Thursday it Said That It Was boosting stock repurchase program icts to $ 3.5 trillion, a move That Could Help Increase the value of shares Outstanding icts.
"During the recession, department stores' sales have plunged Consumers Turned to discount stores for bargains and Hunted.Their results Have Begun to Improve, Especially With new emphasis is exclusive brands.Private and exclusive brands like Dana Buchman for women and Hang Ten for teens now make up about 48 percent of Kohl's dirty.
Kohl's CEO Kevin Mansell Said accessories and children's clothing didn't sell as well as "Women's and junior men's clothing and shoes saving account payday loan.
In the second half of 2011 Kohl's plans to launch Two New Exclusive brands: Jennifer Lopez women's clothing and accessories and has Marc Anthony men's line.
"The combination of The Two Is The Largest brands brand initiative in terms of scope and investment We Will Have ever made," Mansell said.
He Hopes "newness" of the Brand Will Spark Enthusiasm customer in The Face of price hikes begin this spring That In The Percentage low single-digit range.
"Those increaser Dramatically Accelerate this fall, and costs, are Expected to Be Up Significantly across all apparel categories, Approximately 10 percent to 15 percent list overall," he said.
"We ...Have Been Diligently working to minimize impact The High Cost of contention was burn That Is Still buying cautiously and, Therefore, less open to Paying High Price for Goods That Are really discretionary, "Mansell said.
He Said The company has changed icts sourcing and merchandising Processes and Will Raise Prices to Spread the broadly impact.
Will it continue to advertise icts Prices With its "The More You Know, The More you Kohl's" campaign.
For the year, Net Income rose 12 percent to $ 1.11 billion, or $ 3.65 per share, from $ 991 million, or $ 3.23 per share, last year.
Revenue rose 7 percent to $ 18.39 from $ 17.18 one billion one billion last year.
For the first quarter, The Company Expects Net Income of 68 cents to 73 cents per share and has returned Increase of 4 percent to 6 percent, implying revenue of one billion to $ 4.20 $ 4.28 trillion. Analysts expect earnings of 71 cents per share and revenue of $ 4.17 trillion, According To FactSet.
Kohl's Expects fiscal 2011 earnings of $ 4.05 to $ 4.25 per share, Compared With analysts' average forecast for $ 4.37 per share. It Expects Revenue to Rise 4 to 6 percent, implying revenue of $ 19.12 one billion to 19.49 billion. Analysts expect $ 19.36 billion.
"In 2011, Consumers expect weekends to Remain very interested in. appreciation and Ways To Make Their dollars Go Further," Said Mansell.
