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Kohl's revenue down 3.1% to $4,430 mn in Q2 2019

23
Aug '19
Pic: Kohl
Pic: Kohl's Corp
Kohl's Corporation, a leading omnichannel retailer, has reported net revenue of $4,430 million in Q2 2019 ending August 3, 2019, down 3.1 per cent from $4,570 million in Q2 2018. The revenue for the first half of 2019 decreased by 3 per cent to $8,517 million from $8,778 million in first half of 2018. The comparable sales decreased by 2.9 per cent in Q2 2019.

"We are pleased to report that our business strengthened as we progressed through the second quarter. Comparable sales were better than the first quarter and improved during the period, turning positive during the last six weeks of the second quarter with 1 per cent growth. This positive trend has continued into August driven by a successful start to the back-to-school season. We are confident that our upcoming brand launches, programme expansions, and increased traffic from the Amazon returns programme will incrementally contribute to our performance during the balance of the year and beyond," said Michelle Gass, Kohl's chief executive officer.

The company affirms its adjusted annual earnings per diluted share guidance of $5.15 to $5.45, which excludes $0.26 per diluted share related to Impairments, store closing and other costs recognised in the first six months of 2019. (PC)

Fibre2Fashion News Desk – India


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