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Kohl's reports 1.4 percent increase in Q1 sales

By Prachi Singh


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Kohl’s Corporation (NYSE:KSS). Kohl’s Corporation today reported results for the quarter ended May 2, 2015. Total sales for the quarter stood at 4,123 million dollars compared to 4,070 million dollars, same quarter, last year representing a rise of 1.4 percent. Comparable store sales increased 1.4 percent during the quarter under review. The company reported net income of 127 million dollars and diluted earnings per share of 0.63 dollar against 0.60 dollar, last year.

Elaborating on the performance, Kevin Mansell, Kohl's Chairman, Chief Executive Officer and President, said, "Sales were modestly below our original expectations for the quarter, but accelerated in the March/April combined period after a weak February. We are very pleased with our earnings results, with a more balanced promotional calendar driving merchandise margin combined with strong expense control."

On May 13, 2015, Kohl's Board of Directors declared a quarterly cash dividend on the company's common stock of 0.45 dollars per share. The company opened two new stores during the quarter and now operates 1,164 stores in 49 states, compared with 1,160 stores at the same time last year.

Kohl's Corporation