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Kohl's Corporation reports FY19 revenue of $19.9 bn
18 Mar 20 2 min read
Kohl's Corporation, a leading omnichannel retailer, reported flat 0.1 per cent revenue rise to $6.8 billion in fourth quarter (Q4) FY19 compared to same period prior year. Revenue in full FY19, ended on February 1, 2020 fell 1.3 per cent to $19.9 billion compared to $20.2 billion in prior year. Net income fell from $801 million to $691 million in full FY19.
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"While 2019 was a year in which our financial results did not meet our expectations, it was also a year of innovation and investment that further strengthened Kohl's differentiation in the market. We are encouraged by the acceleration of traffic and new customer acquisition in our stores and online driven by the unprecedented level of new brands and partnerships we launched during the year," Michelle Gass, Kohl's chief executive officer, said in a press release.
Operating income in the quarter decreased to $401 million (Q4 FY18: $441 million) while over the year it fell to $1,099 million (FY18: $1,361 million). Selling, general and administrative (SG&A) expenses in Q4 was $1,742 million (Q4 FY19: $1,694 million) and for full FY19 it grew to $5,705 million (FY18: $5,601 million).
Net income in fourth quarter fell marginally to $265 million compared to $272 million in same period prior year.
Fibre2Fashion News Desk (JL)
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