Kohl's August same-store sales down 1.9% in August
Department store retailer Kohl's (NYSE: KSS) on Thursday said that same-store sales dropped 1.9% in August, driven by lower customer traffic, pushing shares down.
Kohl's shares lost 76 cents, or 1.64%, to trade at $45.58 Thursday on the New York Stock market.
For the four-weeks ending August 27, total sales declined 0.1%. Analysts had expected a drop of 1.6%, according to Thomson Reuters.
Total sales came in flat at $1.4 billion. The company said that sales in its regions most affected by Hurricane Irene were down in the mid-single digits.
Kohl's, which is based in Menomonee Falls, Wisconsin, said it is aggressively "increasing our marketing as well as sharpening our pricing focus for the remainder of the fall season to reverse this trend."
The U.S. company operates 1,097 stores compared with 1,067 stores in the same time last year.
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