Warm Weather Hurts Kohl's Sales
Kohl's , which runs a chain of mid-priced department stores, on Thursday reported a smaller-than-expected gain in November sales at stores open at least a year, saying warm weather hurt sales.
"Seasonal apparel classifications such as outerwear, fleece and sweaters were under plan in November, particularly in the back half of the month when the temperatures were warmer than
last year," the company said in a recorded call.
Kohl's said November same-store sales rose 3.7%, while analysts, on average, had been expecting an increase of 4.8%, according to a Thomson Financial.
Menomonee Falls, Wisconsin-based Kohl's said total sales for the four weeks ended Nov. 25, rose 12.4% from the year-earlier period to $1.68 billion.