Kohl's forecasts FY 2013 profit below estimates

Thu Feb 28, 2013 7:17am EST

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.

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California state worker Albert Jagow (L) goes over his retirement options with Calpers Retirement Program Specialist JeanAnn Kirkpatrick at the Calpers regional office in Sacramento, California October 21, 2009. Calpers, the largest U.S. public pension fund, manages retirement benefits for more than 1.6 million people, with assets comparable in value to the entire GDP of Israel. The Calpers investment portfolio had a historic drop in value, going from a peak of $250 billion in the fall of 2007 to $167 billion in March 2009, a loss of about a third during that period. It is now around $200 billion. REUTERS/Max Whittaker   (UNITED STATES) - RTXPWOZ

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