In this Thursday, Jan. 10, 2013, photo, specialist Edward Zelles works on the floor of the New York Stock Exchange. Wall Street futures were mostly flat in world markets prior to the opening bell Friday Jan. 11, 2013. (AP Photo/Richard Drew)

Kohl's Jan. key revenue figure tops Street's view

Published: 03:02:32 PM, Thu 07 February 2013 UTC

MENOMONEE FALLS, Wis. (AP) — Kohl's said its January revenue at stores open at least a year rose 13.3 percent, soundly beating Wall Street's expectations. The latest figures include an extra week compared with a year ago.

Analysts polled by Thomson Reuters expected the metric to increase 3.1 percent.

Revenue at stores open at least a year is a key indicator of a retailer's health because it excludes results from stores recently opened or closed.

Total revenue for January climbed to $1.13 billion from $844 million.

Chairman, President and CEO Kevin Mansell said in a statement that the Menomonee Falls, Wis.-based company was able to clear out its seasonal merchandise last month.

Its strongest region was the West and all merchandise categories except footwear reported a double-digit percentage increase in revenue at stores open at least a year. Footwear posted a single-digit increase.

Removing the effect of the extra week in the latest figures, Kohl's Corp. said fourth-quarter revenue at stores open at least a year climbed 1.9 percent. The figure edged up 0.3 percent for the year.

For the fourth quarter, revenue rose 6 percent to $6.34 billion from $6.01 billion. Analysts surveyed by FactSet forecast revenue of $6.3 billion.

Full-year revenue increased 3 percent to $19.28 billion from $18.8 billion.

Kohl's has 1,146 stores in 49 states. Its stock fell 63 cents to $45.62 in morning trading.

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