Aug 9 Kohl's Corp reported a
better-than-expected second-quarter profit despite weak sales as
the department store reined in its costs.
The retailer, which competes most directly with Macy's Inc
and J.C. Penney Co Inc, forecast sales at stores
open at least year would be flat to up 2 percent in the current
quarter after falling 2.7 percent in the second quarter in part
because of merchandise shortages.
Kohl's, which operates 1,134 stores, expects third-quarter
earnings of 83 cents to 89 cents per share, compared with the 87
cents Wall Street analysts had been expecting, according to
Thomson Reuters I/B/E/S.
Kohl's posted a second-quarter profit of $240 million, or $1
per share, down from $299 million, or $1.08 per share, a year
earlier. That beat analyst forecasts by 4 cents.