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Kohl’s misses as Q3 earnings fall 18%; lowers full-year outlook
Menomonee Falls, Wis. – Kohl’s Corp. missed Wall Street forecasts with a generally poor showing in the third quarter of fiscal 2013 that saw the retailer’s net income fell 18% to $177 million from $215 million a year ago. The chain lowered its full-year earnings forecast.
In addition, net sales dropped 1% to $4.44 billion, from $4.49 billion. Same-store sales fell 1.6%.