Kohls Q2 net sales drop 0.9 percent

Kohl’s net sales of 4,144 million dollars in the three months to July 29, 2017 were down 0.9 percent compared to the same quarter last year, while sales in the first six months dropped 2 percent to 7,987 million dollars. Comparable store sales for the quarter declined 0.4 percent during the quarter and 1.5 percent during the first half.

Commenting on the results, Kevin Mansell, Kohl's Chairman, CEO and President, said in a media release: "The traffic momentum that we saw in the combined March/April period accelerated in the second quarter. Though transactions for the quarter were lower than last year, July transactions increased. We are also excited by the sequential sales trend improvement in all our lines of business, all geographic regions, and in both our proprietary and national brand portfolios."

Reported net incomes for the quarter jumped 49 percent to 208 million dollars, while first half saw rise in net income of 75 percent to 274 million dollars. Diluted earnings per share rose 61 percent to 1.24 dollars for the quarter and 88 percent to 1.62 dollars in the first half of this fiscal.

On August 8, 2017, the Kohl's board of directors declared a quarterly cash dividend on the company's common stock of 0.55 dollar per share. The company ended the quarter with 1,154 Kohl's stores in 49 states compared with 1,150 Kohl's stores at the same time last year. Kohl's also operates 12 Fila Outlets and four Off/Aisle clearance centers.

Picture:Facebook/Kohl's