Kohl’s posts decline in Q1 revenue and profit

For its first quarter, Kohl’s Corporation has reported total revenue of 4,087 million dollars, a drop of 2.9 percent, while comparable sales decreased 3.4 percent. The company said, diluted earnings per share were 38 cents, down 16 percent, while adjusted diluted earnings per share reached 61 cents, a drop of 5 percent. Reported net income of 62 million dollars decreased 17 percent and non-GAAP net income of 98 million dollars was down 8 percent compared to the same quarter last year.

Commenting on the first quarter trading, Michelle Gass, Kohl's CEO, said in a statement: "The year has started off slower than we’d like, with our first quarter sales coming in below our expectation. We are actively addressing the opportunities that impacted our first quarter sales and we have strong initiatives that will enhance our sales performance in the second half."

On May 15, 2019, Kohl's board of directors declared a quarterly cash dividend on the company's common stock of 67 cents per share.

Updating its outlook, the company said, it now expects adjusted annual earnings per diluted share to be 5.15 dollars to 5.45 dollars, compared to its prior guidance of 5.80 dollars to 6.15 dollars.

Picture:Kohl's media gallery