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Spring retail funk hits Kohl’s as Q1 profit plunges
Call it a spring retail funk. The day after Macy’s posted disappointing results for its first quarter, Kohl’s Corp. upped the ante, reporting an 87% drop in net income amid heavy one-time costs. Kohl’s net income for the three months that ended April 30, was $17 million, down 87% from the $127 million Kohl's earned in the year-ago period. Excluding impairments, store closings and one-time costs, net income was $58 million, down 55%. -
Sears hopes to lure store shoppers with Mom, online pickup
Sears Holdings has been having issues attracting shoppers to stores, as evidenced by the recent decision to close 78 brick-and-mortar locations.
However, the department store retailer is not giving up on efforts to drive store traffic. Sears is combining the eternal appeal of Mom and its strong history of omnichannel customer service to give shoppers a good reason to visit their local store.
