Key sales figure rises a Kohl's for November

AP News
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Posted: Dec 03, 2009 8:58 AM

Department store chain Kohl's Corp. said Thursday that its sales a stores open at least a year rose in November as more cost-conscious shoppers visited the discount department store.

The 3.3 percent rise in the figure, considered a key indicator of a retailer's financial health, surpassed analyst forecasts.

Items for the home were among the best sellers.

Analysts surveyed by Thomson Reuters expected it to rise 1 percent.

The figure is important because it measures growth at existing locations and excludes those that open or close during the year.

Overall net sales for the month rose 7.1 percent to $1.87 billion, up from $1.75 billion last year.

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Based in Menomonee Falls, Wis., Kohl's operates 1,059 stores in 49 states.

Its shares fell 23 cents, less than 1 percent, in trading before the market opened Thursday to $53.50. They closed Wednesday at $53.73.