Skip to main content

Kohl’s tops Street


Kohl’s Corp. beat analysts’ expectations for the second quarter amid reduced expenses and better inventory management. But its sales continued to show weakness.

The retailer posted a profit of $140 million, or 77 cents a share for the quarter ended July 30, compared with $130 million, or 66 cents a share, in the year-ago period. Excluding certain items, earnings rose to $1.22 a share from $1.07 a year ago.

Revenue fell 2% to a better-than-expected $4.18 billion. Same-store sales fell 1.8%.

"Our sales improved over our first quarter results, but were below our expectations," said Kohl’s CEO and chairman Kevin Mansell. “Our inventory management initiatives helped us to achieve a strong increase in gross margin with ending inventory per store down significantly from last year.

Kohl’s ended the quarter with 1,150 Kohl's stores, 12 FILA Outlet stores, and three Off/Aisle clearance centers in 49 states, compared with 1,164 Kohl's stores at the same time last year.
This ad will auto-close in 10 seconds