MENOMONEE FALLS, Wis. — Kohl’s Corporation reported fourth quarter diluted earnings per share of $1.66 compared with $1.81 for the fourth quarter of 2011. Net income for the fourth quarter was $378 million compared with $455 million a year ago. For the year, net income was $1 billion ($4.17 per diluted share) compared with $1.2 billion ($4.30 per diluted share) for fiscal 2011.
Total sales for the quarter were $6.3 billion, an increase of 5.4% over sales of $6 billion for the same period last year. Same-store sales for the quarter were up 1.9%.
For the full year, total sales were $19.2 billion, an increase of 2.5% over sales of $18.8 billion for the same period last year.
Kevin Mansell, Kohl’s chairman, president and chief executive officer, said, “Sales for the fourth quarter developed very late and, as a result, came at a cost to profitability. We were, however, able to end the quarter with levels of inventory appropriate for a strong transition to Spring. Our associates across the company did an excel