November 9, 2017 / 12:11 PM / in a month

Kohl's posts surprise rise in comparable sales

Nov 9 (Reuters) - Department store operator Kohl’s Corp reported its first increase in comparable-store sales in seven quarters, helped by higher traffic and strong back-to-school sales.

Sales at stores open at least 12 months increased by a marginal 0.1 percent, compared with the 0.7 percent decline expected by analysts, according to Thomson Reuters I/B/E/S.

The company’s net income fell to $117 million, or 70 cents per share, in the third quarter ended Oct. 28, from $146 million, or 83 cents per share, a year earlier. (Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by Saumyadeb Chakrabarty)

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