Kohl's expects modest sales gains in new fiscal year
(Reuters) - Kohl's Corp (KSS.N) 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 February 1, down from $378 million, or $1.66 a share, a year earlier.
(Reporting by Phil Wahba in New York; Editing by Lisa Von Ahn)