Kohl’s reports higher profit, comparable store sales

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Menomonee Falls-based Kohl’s Corp. today reported first quarter net income of $127 million, or 63 cents per share, up from $125 million, or 60 cents per share, in the first quarter of 2014.

The national retailer recorded $280 million in operating income, flat from last year.

Revenue totaled $4.1 billion, also flat from the first quarter of 2014. Comparable store sales were up 1.4 percent year-over-year, compared with a 3.4 percent decline in the same period a year ago.

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“Sales were modestly below our original expectations for the quarter, but accelerated in the March/April combined period after a weak February,” said Kevin Mansell, president and chief executive officer of Kohl’s. “We are very pleased with our earnings results, with a more balanced promotional calendar driving merchandise margin combined with strong expense control.”

Kohl’s has 1,164 stores in 49 states. It opened two new stores during the first quarter, and now has four more stores than it did in the first quarter of 2014.

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