Kohl's Net Drops 3.8 Percent in Q2
August 15, 2013,
MENOMONEE 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.