Kohl's: Q2 net income down 15%

(CercleFinance.com) - The department store chain Kohl's has posted Q2 adjusted net income that is down 15% at 247 million dollars, or 1.
55 dollar per share, with the group confirming its FY target of between 5.15 and 5.45 dollars.

Kohl's saw its gross margin fall by 72 basis points to 38.8%, while sales declined 3.1% to 4.43 billion dollars. On a comparable basis, sales fell by 2.9%, albeit on a trend that has improved compared to the first quarter.

"Comparable sales were better than the first quarter and improved during the period, turning positive during the last six weeks of the second quarter with 1% growth.  This positive trend has continued into August driven by a successful start to the back-to-school season," the group continued.


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