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Sales growth weak at Kohl's in Q1
Kohl’s couldn't combat weak consumer spending in the first quarter despite launching a loyalty program and new advertising initiatives.
Kevin Mansell, Kohl's chairman, chief executive officer and president, said: "Sales were modestly below our original expectations for the quarter, but accelerated in the March/April combined period after a weak February. We are very pleased with our earnings results, with a more balanced promotional calendar driving merchandise margin combined with strong expense control."
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Children’s Place grows profit, shrinks sales in Q1
Secaucus, N.J. – A reduction in cost of sales helped The Children’s Place Inc. boost net income 15% to $15.6 million in the first quarter of fiscal 2015 from $13.6 million in the same quarter a year earlier. The Children’s Place achieved this increase in profitability even as net sales dropped 1% to $404.9 million, from $410.15 million.
Negative impact of foreign currency exchange fluctuations drove the reduction in net sales. Same-store sales rose 0.7%.
