Kohlís CEO: Ďour sales results were below our planí

Freeman Staff

Aug. 13, 2015

MENOMONEE FALLS óDuring the second quarter, Kohlís Corporation only saw small gains in comparable store sales but significant decreases in net income, for which CEO Kevin Mansell expressed disappointment Thursday.

Comparable store sales for the second quarter were $4.267 million, a 0.6 percent increase compared to the total of $4.242 for the second quarter of 2014. The net income reported for the period was $130 million compared to $232 million during the second quarter of 2014, a 44 percent decline.

ďOur sales results were below our plan as the shift of sales in tax-free states from July into August was larger than anticipated. Our expenses were well managed for the season. Our inventory receipts are well-positioned for the back-to-school and fall seasons,Ē said Kevin Mansell, Kohl's chairman, chief executive officer and president, in a statement.

Kohlís ended the quarter with 1,164 stores in 49 states, compared with 1,160 stores at the same time last year.

www.Kohls.com