Kohl's 2010 Annual Report Download - page 22

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Table of Contents
Our current expectations for the first quarter and fiscal 2011 compared to the comparable prior year periods are as follows:
 
Total sales Increase 4% - 6% 4% - 6%
Comparable store sales Increase 2% - 4% 2% - 4%
Gross margin as a percent of sales Increase 10 - 30 bp 0 - 20 bp
SG&A Increase 5% - 6.5% 3% - 4.5%
Earnings per diluted share $0.68 - $0.73 $4.05 - $4.25
This guidance does not reflect any additional share repurchases in fiscal 2011.

Our fiscal year ends on the Saturday closest to January 31. Unless otherwise noted, references to years in this report relate to fiscal years, rather than to
calendar years. Fiscal year 2010 (“2010”) ended on January 29, 2011, fiscal year 2009 (“2009”) ended on January 30, 2010, and fiscal year 2008 (“2008”)
ended on January 31, 2009. All three years were 52-week years.

  
Net sales (in millions)  $17,178 $16,389
Number of stores:
Opened during the year  56 75
Open at end of year  1,058 1,004
Comparable stores (a)  929 817
Sales growth:
Total  4.8% (0.5%)
Comparable stores (a)  0.4% (6.9%)
Net sales per selling square foot (b)  $ 217 $ 222
(a) Comparable store sales growth is based on sales for stores (including E-Commerce sales and relocated or remodeled stores) which were open throughout
both the full current and prior year periods
(b) Net sales per selling square foot is based on stores open for the full current period, excluding E-Commerce.
The changes in net sales were due to the following:
  

Comparable store sales:      $ % $ %
Stores   $ (62) (0.4)% $(1,209) (7.8)%
E-commerce   132 38.7 116 51.8
Total   70 0.4 (1,093) (6.9)
Sales from new stores    719 — 1,008 —
Total net sales increase (decrease)   $789 4.8% $ (85) (0.5)%
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