Kohl's Net Drops 3.8 Percent in Q2

Kohl'sMENOMONEE FALLS, Wis.-Although sales headed in a mostly positive direction, Kohl's finished its fiscal second quarter with a 3.8 percent decline in net income, to $231 million.

Net sales in the quarter, which ended on Aug. 3, gained 2 percent to $4.3 billion, including an uptick of 0.9 percent in same-store sales. Gross margin edged up three basis points to 39.1 percent. Selling, general and administrative expenses increased 2.6 percent in dollars and 13 basis points as a percentage of sales, to 23.3 percent.

Kevin Mansell, Kohl's chairman, president and CEO, said the company was "pleased" with its results for the quarter. "Sales improved significantly over the first quarter, and gross margin improved over last year," Mansell said. "Expenses were well managed, and we ended the quarter with inventory per store up mid-single digits while funding our e-commerce growth."

HFN Staff | News & Commentary

HFN provides detailed information on the key home classifications: Housewares, Tabletop, Floor Covering & Rugs, Furniture, Home Textiles, Lighting, Home Decor, Mattresses & Bedding, Gifts, Major Appliances and Consumer Electronics as well as Business, Finance and Retail.

Videos

  • Patti Carpenter Talks Color and its Importance in the Home

    Camera Icon   More Videos

Subscribe to
HFN Omnichannel
Receive the news you need to know about the trends in the industry delivered right to your inbox.

Current Issue

  • HFN August 2017 cover

    HFN's DIGITAL EDITION

    August 2017


    COVER STORY: Sharpening the Focus on Millennials

    Find out what makes Millennials tick when it comes to home decorating, shopping and at-home entertaining with HFN's annual consumer study. Turns out, Millennials favor the in-store shopping experience.


    ALSO IN THIS ISSUE:

    • Power of the People - Crowdfunding campaigns provide needed capital, feedback for home and housewares product launches.
    •  Omnichannel Retailing: Visual Search Takes Off - Learn how voice and visual search are revolutionizing product discovery.