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23 Aug

Kohl’s Sees Steep Q2 Declines But Reassures Wall Street

Kohl’s Sees Steep Q2 Declines But Reassures Wall Street
Kohl’s Corp., faced with softening consumer demand, saw steep declines in each the highest and bottom-lines in the course of the second quarter, but the outcomes fell in step with the retailer’s expectations. Net income for the period ended July 29 was $58 million, or $0.52 per diluted share. This compares to net income of $143 million, or $1.11 per diluted share within the prior 12 months. Operating income was $163 million in comparison with $266 million within the prior 12 months. As a percentage of total revenue, operating income was 4.2 percent, a decrease of 233 basis points year-over-year. Net sales decreased 4.8 percent to $3.7 billion, from $3.86 billion within the year-ago period. Comparable sales were down 5 percent. “I might think that in...
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