Kohl's expects modest sales gains in new fiscal year

Thu Feb 27, 2014 7:15am EST

Feb 27 (Reuters) - Kohl's Corp said on Thursday that it expected modest sales gains in its new fiscal year and reported a lower fourth-quarter profit, hurt by markdowns during the holiday season and higher shipping costs in its e-commerce business.

Kohl's forecast comparable sales, which include those online and at stores open at least a year, to range between unchanged and up 2 percent this year, with earnings of $4.05 to $4.45 per share.

The department store chain reported a profit of $334 million, or $1.56 per share, for the fourth quarter ended Feb. 1, down from $378 million, or $1.66 a share, a year earlier.

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