Kohl’s Q4 profit up 28%, first quarter below Street view

Menomonee Falls, Wis. Kohl's Corp. grew its profit in the fourth quarter as it kept its inventory levels lean and took advantage of shoppers' trend toward buying value-priced goods, the retailer said Thursday.

The chain also gave a full-year earnings prediction within range of Wall Street's expectations. Its first-quarter guidance was below analysts' views.

For the period ended Jan. 30, earnings rose 28% to $431 million from $336 million in the same period a year earlier. The results beat analysts' estimate.

Sales increased 9% to $5.68 billion from $5.23 billion, narrowly topping Wall Street's forecast of $5.67 billion. Same-store sales grew 4.5%.

"Consumers continue to be financially strained and are looking for value and ways to make their dollars go further," chairman, president and CEO Kevin Mansell said in a statement.

Full-year profit rose to $991 million, from $885 million last year. Sales rose 5% to $17.18 billion, with same-store sales up at 0.4%.

Kohl's had 1,058 stores in 49 states at year's end.