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Kohl's Corp. Message Board

  • adspatz adspatz Nov 15, 2013 11:02 AM Flag

    Kohl’s profits drop 18%

    Search for "SEC Live Filings Digest" to find out more.
    Filing in Focus: Kohl’s 8-K, November 14, 2013
    Kohl’s Corp. (KSS) announced its financial results for the third quarter of fiscal year 2013, reporting an 18% decline in profits. Sales dipped 1% to $4.4B while comparable-store sales, a key indicator because it includes stores open at least a year, fell 1.6%. Profit dropped from $215M to $177M, while earnings per share fell 11% from $0.91 to $0.81 per share. Chairman, President, and CEO Kevin Mansell commented that the company is ready for the holiday season and believes it is well-positioned for increased market share. At the end of the quarter Kohl’s store count totaled 1,158 stores in 49 states, up from 1,146 a year ago. Three stores were opened during the quarter while nine others were opened in the first quarter. Kohl’s lowered its annual earnings guidance from between $4.15 and $4.35 per share to between $4.08 and $4.23 per share.

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