Cost cuts, exclusive brands drive Kohl's 3Q profit

[November 12, 2009]  MENOMONEE FALLS, Wis. (AP) -- Kohl's says sales of its exclusive brands and tight inventory control helped third-quarter profit rise 21 percent.

The department-store operator also raised its full-year guidance.

Kohl's has benefited from its expansion of exclusive brands like Dana Buchman and Simply Vera Vera Wang, as well as its focus on cutting costs.

Kohl's says profit rose to $193 million, or 63 cents per share. Revenue rose 7 percent to $4.05 billion.

Sales in stores open at least one year rose 2 percent. That's considered a key measurement of a retailer's health.

Kohl's, based in Menomonee Falls, Wis., now expects full-year earnings of $2.98 to $3.08 per share, from previous guidance of $2.59 to $2.70 per share.

[Associated Press]

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