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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%.
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Expansion-minded rue21 opens its 1,000th store
Warrendale, Pa. -- Rue21 on Thursday celebrated the opening of its 1,000th store. Located in the Enid Crossing Shopping Center in Enid, Okla., the location is one of the company's new rueGuy format stores and features an expanded assortment of young men's apparel and accessories in addition to the girls' apparel, jewelry, footwear and beauty product.