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Kohl’s lowers outlook as e-comm advances
Weaker than expected third quarter sales prompted Kohl’s to lower its profit forecast while noting that e-commerce sales increase 30%.
The company held an investor conference on Oct. 29 and said third quarter sales were expected to decline 1.4% due to softer than expected sales during October. The top line weakness caused the company to confirm that profits would be at the lower end of a previously forecast range of $4.05 to $4.45 a share.
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Transformation costs impact Coach Q3 net income
New York –- Organizational efficiency costs and charges related to store closures and upgrades that are part of an ongoing transformation plan negatively impacted net income reported by Coach Inc. during the third quarter of fiscal 2014. Net income totaled $146 million, down 33% from $218 million in the same quarter the previous fiscal year.
