News

Kohl’s sales weak but profit dip not as bad as projected

March 1, 2017

While revenue declined in the final quarter of the year for Kohl's due to a dip in same-store sales, profit did not drop as deep as expected, according to a Market Watch report.

"Sales results were weak for the quarter in total, driven by declines in brick-and-mortar traffic, and offset somewhat by strength in online demand," CEO Kevin Mansell said, according to Market Watch, citing merchandise-margin improvement and management of inventory and expenses.

This year Kohl's aims to boost its active wear and wellness portfolio and has pulled in the Under Armour brand for sales starting in March.

For the quarter ended Jan. 28, Kohl's earned $252 million, compared to $296 million a year ago, and revenue dipped 2.8 percent compared to a year ago.