ABJ - November 10 - Kohl's Corporation has reported results for the fiscal period ending October 29.

Kohl's Corporation reported third quarter diluted earnings per share increased 40 per cent to 80 cents. Net income for the quarter increased 20 per cent to $211 million, compared to $176 million (57 cents a diluted share) a year ago. Net sales were $4.4 billion, an increase of 3.8 per cent over the comparable prior year quarter. Comparable store sales for the quarter increased 2.1 per cent.

On a year-to-date basis, diluted earnings per share increased 26 per cent to $2.56. Net income was $711 million, compared with $626 million ($2.03 a diluted share) for the first nine months of fiscal 2010. Net sales were $12.8 billion, an increase of 3.5 per cent. Year-to-date comparable store sales increased 1.7 per cent.

Kevin Mansell, Kohl's Chairman, President and CEO, said, "I am extremely pleased with our ability to deliver strong net income and earnings per share growth in a challenging sales environment. Our gross margin rate increased over last year as a result of our increased penetration of private and exclusive brands and disciplined inventory management. We are pleased with the expense management discipline across the company that allowed us to grow our expenses less than we originally planned."