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Kohl's Tops Same-Store Sales Estimates, Raises Forecast

The American department retailer has benefitted from a makeover of its stores, as well as partnerships with Amazon and Under Armour.

Kohl's retail storefront | Source: Shutterstock

Reuters

20 November 2018

MENOMONEE FALLS, United States — Department store operator Kohl's reported better-than-expected quarterly same-store sales on Tuesday, benefiting from its revamped stores and merchandise as well as its partnerships with Amazon and Under Armour .

Net income rose to $161 million, or 98 cents per share, in the third quarter ended November 3, from $117 million, or 70 cents per share, a year earlier.

Sales at stores open at least 12 months rose 2.5 percent, compared with the 1.74 percent rise expected by analysts, according to IBES data from Refinitiv.

Net sales rose to $4.63 billion from $4.57 billion a year earlier. The company also raised its full-year earnings forecast.

By Soundarya J; editor: Saumyadeb Chakrabarty

In This Article

Topics

Retail

Organisations

Kohl's

Location

Menomonee Falls, United States

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