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Kohl’s Q1 profit tops forecast, misses on sales


Menomonee Falls, Wis. – Kohl’s Corp. exceeded Wall Street expectations for profit but missed analysts’ expectations with its sales and same-store sales performance during a mixed first quarter of fiscal 2015.

Net income climbed 2% to $127 million from $125 million in the year-earlier period, aided by improved expense management.

However, severe winter weather in the first part of the quarter helped limit net sales to $4.12 million, only 1% higher than $4.07 million recorded the prior year. Same-store sales grew 1.4%, also inhibited by poor weather.

"Sales were modestly below our original expectations for the quarter, but accelerated in the March/April combined period after a weak February,” said Kevin Mansell, chairman, CEO and president of Kohl’s. “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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