Kohls Reports Improved Sales and Profit
Kohls reported second quarter sales down only 0.9 percent and a profit of 151 million dollars. CEO Michael Bender highlighted better inventory management and plans to restart stock buybacks.
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KOHLS CORP posted a quarterly profit of $151M on August 26, down just $2M from the previous year as sales fell 0.9%. The retailer's profit was bolstered by $100M from tariff refunds. CEO Michael Bender pointed to improved inventory management and cash positions as signs of an ongoing operational turnaround.
The Menomonee Falls-based retailer adjusted its full-year sales expectations to range from flat to down 1.5%. KOHLS CORP also plans to restart its share repurchase program, allocating up to $100M to buy back stock.
