(Reuters) – Department store operator Kohl’s Corp reported better-than-expected quarterly profit and comparable sales, helped by a sales boost in the final month of the quarter and cost cuts, sending its shares up 4 percent in premarket trading.
Kohl’s and rivals such as Macy’s Inc and J.C. Penney Co Inc have been struggling with declining mall traffic and tough online competition.
Response - Costs - Stores - Estate - Leash
In response, they have been cutting costs by closing stores, selling or leasing their real estate and keeping a tight leash on inventory.
Sales at Kohl’s stores open for more than a year fell for the sixth straight quarter to 0.4 percent, but were better than the...
0 other people are viewing this story
Wake Up To Breaking News!