Kohl's Corp Q2 Profit Rises; Comps. Down 1.3% - Quick Facts

(RTTNews) - Department store chain Kohl's Corp. (KSS) reported that its second-quarter net income increased to $232 million from the previous year's $231 million, with earnings per share improving to $1.13 from $1.04 last year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.07 per share for the quarter. Analysts' estimates typically exclude special items.

But, net sales were $4.242 billion, down from $4.289 billion in the year ago quarter. Wall Street expected revenues of $4.28 billion.

Comparable store sales for the quarter declined 1.3%, compared to an increase of 0.9% in the year ago quarter.

On August 12, 2014, Kohl's Board declared a quarterly cash dividend on the Company's common stock of $0.39 per share. The dividend is payable September 24, 2014 to shareholders of record at the close of business on September 10, 2014.

Kohl's ended the quarter with 1,160 stores in 49 states, compared with 1,155 stores at the same time last year. The Company opened four new store locations, relocated one existing store and permanently closed two stores during the first quarter of 2014. It expects to open four new stores this Fall, including one store which was temporarily closed in the first quarter for a complete re-build.