MENOMONEE FALLS – Kohl’s Corp. on Thursday reported
third-quarter net income that dropped 18 percent,
according to a company statement.
The company said it earned $177 million, or 81 cents a
share. A year earlier, it earned $215 million, or 91
cents a share. Revenue fell 1 percent to $4.44 billion.
The Menomonee-Falls department store operator said sales
at stores open at least a year fell 1.6 percent compared
with a 1.1 percent gain a year ago. For the
fourth-quarter, the company is expecting earnings of
$1.59 to $1.74 per share, with revenue down 2 percent to
For full-year earnings, Kohl’s foresees $4.08 to $4.23 a
share, compared to its prior forecast of $4.15 to $4.35
"As we enter the holiday season, we believe we are
well-positioned from a merchandise content and inventory
perspective to gain market share,” said Kevin Mansell,
Kohl's chairman, president and chief executive officer.
“We have increased our marketing spending and improved
its impact and reach in order to drive higher traffic to
our stores and on-line.”
Kohl’s also announced it plans to have a Juicy Couture
women’s and girls’ clothing, accessories and home items
in its store and online in fall of 2014.
The retail chain declared a quarterly dividend of 35
cents a share, which will be paid on Dec. 24 to
shareholders of record on Dec. 11.