Kohl's Profit Down in 3Q

Menomonee Falls, Wis. Kohl’s Corp. reported net income for the quarter ended Nov. 1, of $160.2 million, down 17% from $194.0 million last year.

Net sales were $3.8 billion, a decrease of 0.6% for the quarter.  Same-store sales decreased 6.7%.

For the nine months ended Nov. 1, net income decreased 18% to $549.1 million compared to $672.2 million for the nine months ended Nov. 3, 2007.

Net sales increased 1.5% to $11.2 billion from $11.0 billion a year ago, while same-store sales decreased 6.0%.