Kohl’s Corporation reported net sales decreased 5.2 percent year-over-year, to $3.8 billion in the fiscal third quarter ended October 28, with comparable sales down 5.5 percent.
Gross margin was 38.9 percent of net sales for the quarter, an increase of 158 basis points versus the corresponding period last year. Selling, general & administrative (SG&A) expenses increased 1.9 percent year-over-year, to $1.4 billion. As a percentage of total revenue, SG&A expenses were 33.5 percent, an increase of 235 basis points year-over-year.
Net income was $59 million, or 53 cents per diluted share, in fiscal Q3, compared to net income of $97 million, or 82 cents per diluted share in the prior-year period.
Inventory was $4.2 billion at quarter-end, a decrease of 13 percent year-over-year.
For more details about Kohl’s third quarter, read more here:
EXEC: Kohl’s Shares Fall on Choppy Q3 Results, Sharp E-Commerce Decline
