Kohl's Net Jumps 45 Percent in First Quarter
May 13, 2010,
MENOMONEE FALLS, Wis.-Net income for Kohl's finished the first quarter at $199 million, up 45 percent from the first quarter of last year.
The department-store retailer achieved this boost to the bottom line through a 10.9 percent gain in net sales for the quarter--which totaled $4 billion and which included a 7.4 percent pickup in same-store sales. The sales rise helped increase the company's gross margin by 50 basis points to 38.1 percent, and led to a 90 basis-point reduction in selling, general and administrative expenses as a percentage of sales. SG&A on a dollar basis did grow 7.3 percent in the quarter, while cost of merchandise sold increased 10 percent.
Other Articles By Author
Adriana Hoyos Relaunches Brand at High Point Market
HFN's DIGITAL EDITION
2017 State of the Industry Report
Cautious Optimism, Mixed Results
Many expected 2016 would be a banner year, but the political and economic climate softened consumer confidence. It was also a year consumers spent more lavishly on home remodeling rather than decorating.
ALSO IN THIS ISSUE:
- TJX Unveils First U.S. Homesense Store - In a time when retailers are reducing store counts, TJX continues to get physical.
- Ikea’s Fluid Spaces - The retailer’s new intros reflect multifunctional rooms.
- N.Y. Home Fashions Market Preview - Textile textures get soft and cozy, colors warmer.