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Kohl's Corporation Reports Second Quarter Financial Results

Kohl’s Corporation (NYSE:KSS). Kohl’s Corporation today reported results for the quarter and year-to-date period ended August 3, 2013.

                       
  Quarter   Year to Date
($ in millions)   2013     2012     Change   2013     2012     Change
Sales $ 4,289   $ 4,205   2.0% $ 8,488   $ 8,447   0.5%
Comparable store sales 0.9 % (2.7 )% - (0.5 )% (1.3 )% -
Net income $ 231 $ 240 (4)% $ 378 $ 394 (4)%
Diluted earnings per share   $ 1.04     $ 1.00     4%   $ 1.70     $ 1.63     4%
 

Kevin Mansell, Kohl's chairman, president and chief executive officer, said, “We are pleased with our progress in the second quarter. Sales improved significantly over the first quarter and our gross margin improved over last year. Expenses were well-managed and we ended the quarter with inventory per store up mid-single digits while funding our E-Commerce growth. I would like to thank each of our associates for their contribution to our results."

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