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Kohl's posts sales of $4,087 million in Q1FY19

31
May '19
Pic: Kohl
Pic: Kohl's Corporation
Kohl’s Corporation, a leading omni-channel retailer, has posted sales of $4,087 million in the first quarter of fiscal 2019 as compared to $4,208 million in the first quarter of fiscal 2018, a decrease of 2.9 per cent. The company now expects adjusted annual earnings per diluted share to be $5.15 to $5.45, compared to its prior guidance of $5.80 to $6.15.

"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. We are incredibly excited about our nationwide rollout of the Amazon returns programme as well as several important brand launches and program expansions. Operationally, the team reacted appropriately throughout the quarter by managing expenses in line with our expectations. While we are planning the year more conservatively, we continue to invest in our business and operate with a view on our long-term success," Michelle Gass, Kohl's chief executive officer, said.

On May 15, 2019, Kohl's board of directors declared a quarterly cash dividend on the Company's common stock of $0.67 per share. The dividend is payable June 26, 2019 to shareholders of record at the close of business on June 12, 2019. (RR)

Fibre2Fashion News Desk – India


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