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.
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