Kohl's Bottom Line Up 20 Percent in Third Quarter
November 10, 2011,
MENOMONEE FALLS, Wis.-Third-quarter net income for Kohl's totaled $211 million, up a robust 20 percent over the third quarter of last year.
With sales still challenged by the economic environment, much of Kohl's bottom-line performance came from the company's disciplined control over costs. Selling, general and administrative expenses rose by a meager 1.1 percent in dollars and dropped back 64 basis points as a percentage of sales, to 24.5 percent. The increased penetration of private and exclusive brands, along with stringent inventory management, pushed Kohl's gross margin up 12 basis points to 38.6 percent.