Kohl's Corporation Reports Third Quarter Financial Results

Kohl's Corporation (NYSE:KSS) today reported results for the three and nine month periods ended October 29, 2016.
    Three Months     Nine Months
($ in millions)     2016     2015     Change     2016     2015     Change
Sales $ 4,327     $ 4,427     (2.3)% $ 12,481     $ 12,817     (2.6)%
Comparable store sales (1.7 )% 1.0 % (2.4 )% 0.8 %
Gross margin 37.1 % 37.1 % 2 bp 37.4 % 37.7 % (26) bp
Selling, general, and administrative expenses $ 1,080 $ 1,099 (2)% $ 3,074 $ 3,120 (1)%
Reported
Net income $ 146 $ 120 22% $ 303 $ 377 (20)%
Diluted earnings per share $ 0.83 $ 0.63 32% $ 1.68 $ 1.92 (13)%
 
Excluding Non-Recurring Items
Net income $ 142 $ 144 (1)% $ 420 $ 484 (13)%
Diluted earnings per share     $ 0.80       $ 0.75       7%     $ 2.33       $ 2.46       (5)%
 

Kevin Mansell, Kohl's chairman, chief executive officer and president, said, "We are pleased to see continued improvement in our sales trends. Our back-to-school season was strong, followed by a soft September, and progressive improvement throughout October. We are encouraged by these trends as we enter the Holiday season. Our teams did an excellent job managing inventory. Expenses were also well-controlled as substantially all teams outperformed their plans."

If you liked this article you might like

Watch Out For the Dominoes That Fall: Cramer's 'Mad Money' Recap (Wed 9/20/17)

This Is How to Avoid Becoming Amazon Roadkill

Cramer: Dominoes Are in Play Today

How Long Can This Rally Run?: Cramer's 'Mad Money' Recap (Monday 9/19/17)