Kohl's forecasts FY 2013 profit below estimates
Feb 28 (Reuters) - Kohl's Corp reported lower fourth-quarter profit on Thursday, hurt by markdowns during the holiday season, and gave a full-year earnings forecast that fell below Wall Street expectations.
The department store chain, which caters to price-sensitive middle-class shoppers, posted net income of $378 million, or $1.66 per share, down from $455 million, or $1.82 per share, a year earlier for the quarter ended Feb. 2.
As previously reported, Kohl's comparable sales for the quarter, including the holiday season, were up 1.9 percent.
Kohl's expects a full-year profit for the new fiscal year of between $4.15 and $4.45 per share, while Wall Street projected $4.56 per share, according to Thomson Reuters I/B/E/S.
- Exclusive: Angry with Washington, 1 in 4 Americans open to secession
- Secret Service investigates after man jumps White House fence, reaches doors
- About 60,000 Syrian Kurds flee to Turkey as Islamic State advances |
- French jets strike in Iraq, expanding U.S.-led campaign against Islamic State |
- Scots spurn independence in historic vote, devolution battle begins |