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Deloitte: Stable economic fundamentals keep consumer spending outlook on track
New York -- The Deloitte Consumer Spending Index (Index) dipped slightly in April, primarily due to an increase in the tax rate, while other economic fundamentals remain steady. The Index tracks consumer cash flow as an indicator of future consumer spending.
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Kohl’s Q1 profit falls 5% but beats Street
Menomonee Falls, Wis. -- Kohl's Corp. reported a 5% drop in first-quarter profit on weak sales fell due to unseasonably cold weather in large parts of the United States.
Kohl's net income fell to $147 million in the quarter ended May 4, down from $154 million a year earlier.
Sales fell 1% to $4.2 billion. Comparable-store sales fell 1.9%.