Kohl’s Q2 Looking Good
MENOMONEE FALLS, Wis. – Kohl’s Corporation announced second quarter earnings per share of 83 cents, a 20.3 percent jump over Q2 2006’s 69 cents per share. Net income increased nearly 16 percent from $232.4 million last year (Q2) to $269.2 million in Q2 this year. Net sales also increased: 8.7 percent from $3.3 billion to $3.6 billion.
Kohl’s CEO Larry Montgomery said in the company’s earnings release, “After a strong start to the quarter in May, our sales performance was affected by the performance of our seasonal businesses in June and July. Strength in our other businesses remained consistent and our early read on back-to-school is positive. We continue to achieve improvement in our operating margin in excess of both our short-term and long-range goals.”
Kohl’s operates 834 stores in 46 states. In the year since the second quarter of 2006, the company opened 85 new stores, expanding into three new states. Kohl’s has plans to open nearly 100 more by the end of the fiscal year.
