-
Kohl’s Q4 profit disappoints
Menomonee Falls, Wis. – Kohl’s Corp.’s reported disappointing fourth-quarter results amid markdowns during the holiday period and increased shipping costs for its e-commerce business.
The chain posted a profit of $334 million for the quarter ended Feb. 1, down from $378 million a year earlier. Total sales dropped 3.8% to about $6.1 billion from $6.34 billion. Same-store sales were down 2%. Kohl’s cited the impact of the 53rd week in fiscal 2012 as a driver of its declines.
-
Chico’s Q4 profit falls
Fort Myers, Fla. – Chico’s FAS’ profit was down sharply in the fourth quarter.
The retailer reported adjusted net income of $5.9 million for the quarter, ended Feb. 1, down from $32.7 million a year ago. The adjusted results exclude the impact of tax charges related to its purchase of Boston Proper, and other acquisition costs.