Kohl's Suffers Winter Chill as Profits and Sales Drop in Q1

Kohl's is the latest retailer to report how it weathered those wintry months which kept customers hibernating and malls deserted. Much like what other retailers saw over the quarter, the three takeaways were fewer profits, a drop in sales and much less foot traffic in stores. Through to April, the department store chain earned 60 cents a share, down 9% from a year earlier and short analysts' estimates by 2 cents. Meanwhile, revenue of $4.07 billion fell over 3% from last year. Comparable-store sales dropped 3.4% compared to analysts' forecast of 0.2% growth. Also reporting Thursday, Walmart saw anemic sales growth with earnings below forecasts.