Kohl’s Q1 Profit Down 15% as Sales Decline

kohlsMenomonee Falls, WI—Kohl’s Corp. today posted lower-than-expected first quarter earnings as sales slipped.

For the quarter ended May 3, the department store company said net profit fell 15%  to $125 million, or 60 cents a share, compared with last year’s $147 million, or 66 cents a share. That was lower than the 63 cents a share analysts had expected.

Management Shake-Up Ahead?

Net revenue declined 3.1% to $4.07 billion, missing analysts’ consensus expecting $4.22 billion in sales. Comparable store sales were down 3.4%, again missing analysts’ estimate for 0.2% increase.

Gross margin widened to 36.8% from 36.4%. And transactions per store fell 4.5 in the quarter. Online sales were up double digits but still missed Kohl’s goals.

“We did not achieve our first quarter sales goals, but we were encouraged by the improvement in sales as the quarter progressed,” said Kevin Mansell, chairman/president/ceo. “Our teams managed our inventory levels appropriately and expenses were controlled throughout the organization during the quarter.”

Kohl’s has remained profitable but its sales continue to be down. On Tuesday, the Wall Street Journal reported that Mansell plans a management shake-up, including naming a new chief merchandising officer that could succeed him as chief executive.

As part of its strategic to reinvigorate sales and performance, Kohl’s new added new beauty departments and a higher concentration of national brands after relying too heavily on its own private brands.

“We have lost some traction with our core customers as the place to get great brands they recognize,” said Wes McDonald, Kohl’s chief financial officer. “Bringing the brands back is what the traffic driving is all about.”

Kohl’s also recently initiated a new loyalty program to reward regular customers.

Looking ahead, Kohl’s reiterated its full year earnings forecast of $4.05 to $4.45 a share.

On Wednesday, the Kohl’s board of directors declared a quarterly cash dividend on the company’s common stock of 39 cents a share payable June 25 to shareholders of record at the close of business on June 11.


For commercial purposes, extract supplements can be obtained from the fruit of the pericarp. Garcinia cambogia reviews is performed by a physician Chen and Oz to prove that it is an herb for weight loss, a lot of research has been done. Studies, Garcinia cambogia extract supplementation decreases the weight of the body fat accumulation, was shown to have a positive effect on prevention. We are important substances such as cholesterol (LDL), reduces the serum leptin and triglycerides. In addition, it will increase the level of serotonin and cholesterol (HDL). The study also, Garcinia cambogia extract supplements, has proven that there are no significant adverse effects on many of the eight weeks, such as its use.

Like this? Share it!