Home / Knowledge / News / 'Q1FY'13 sales lower than expected' – Kohl's CEO
'Q1FY'13 sales lower than expected' – Kohl's CEO
20
May '13
Kohl’s Corporation reported results for the quarter ended May 4, 2013.

For the quarter ended May 4, 2013, Kohl’s Corporation reported sales of US $4.199 billion against $4.243 billion in the corresponding quarter of the previous fiscal year. In the same period net income also dipped to $147 million from $154 million.

Kevin Mansell, Kohl's chairman, president and chief executive officer, said, “After a slow start, sales improved considerably in April as the weather finally improved in our most weather-sensitive regions. Despite the lower than expected sales, we outperformed our earnings guidance as gross margin results and expense management were better than expected. Our inventory levels are consistent with our expectations."

Dividend

On May 15, 2013, Kohl's Board of Directors declared a quarterly cash dividend on the Company's common stock of $0.35 per share. The dividend is payable June 26, 2013 to shareholders of record at the close of business on June 12, 2013.

Store Update

Kohl’s ended the quarter with 1,155 stores in 49 states, compared with 1,134 stores at the same time last year. The Company opened nine new stores during the first quarter of 2013 and expects to open three new stores and remodel 30 stores in the Fall.

Earnings Guidance

The Company provided initial guidance for the fiscal quarter ending August 3, 2013 of $1.00 to $1.08 per diluted share. The guidance is based on total sales growth of 1 to 3 percent and comparable store sales growth of 0 to 2 percent and includes expected second quarter share repurchases of $250 million.

About Kohl's

Based in Menomonee Falls, Wis., Kohl’s is a family-focused, value-oriented specialty department store offering moderately priced, exclusive and national brand apparel, shoes, accessories, beauty and home products in an exciting shopping environment. With a commitment to environmental leadership, Kohl’s operates 1,155 stores in 49 states.

Kohl's Corporation

Must ReadView All

Apparel/Garments | On 29th Jul 2016

Q2FY17 income from operations triples at Dixie Group

Income from continuing operations at the Dixie Group for the second...

Courtesy: YFA Tradeshow

Textiles | On 29th Jul 2016

Chinese Pavilion to be highlight of YFA 2016 Show

A Chinese Pavilion will be the highlight of the upcoming second...

Courtesy: India ITME Society

Textiles | On 29th Jul 2016

Bangladesh hopes for better trade ties with India

Bangladesh’s Minister of State for Textiles & Jute Mirza Azam said he ...

Interviews View All

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
June 2016

F2F Magazine

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search